San Diego-based Qualcomm Wednesday reported fourth-quarter net income of $168 million, or 11 cents per diluted share, compared to $1.6 billion, or $1.07 per diluted share, in the same period last year.
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The provider of technology for mobile devices has been embroiled in a series of recent disputes with iPhone maker Apple, and Asian and European regulators, over its patent royalty policies. On Tuesday, the Wall Street Journal reported that it learned from sources that Apple was designing its new devices to exclude Qualcomm chips.
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Revenues from licensing during the fourth quarter of Qualcomm's fiscal year dropped from roughly $2 billion last year to $1.2 billion this year. Income from sales of equipment and services rose, however, along with expenses.
For the entire fiscal year, Qualcomm reported net income of $2.47 billion, or $1.65 per diluted share, compared to $5.7 billion, or $3.81 per diluted share, last year.
