|
Newsletters
|
|
|
|
|
|
WirelessDevNet.com Press Release
QUALCOMM Announces $1.1 Billion Stock Repurchase
SAN DIEGO, Aug. 27 -- QUALCOMM Incorporated
(Nasdaq: QCOM) today announced that it has repurchased and retired
approximately 29 million shares of common stock during July and August 2007
for approximately $1.1 billion under its $3.0 billion stock repurchase
program. Approximately $1.5 billion remains authorized for repurchase in
future periods, net of put options outstanding, under the stock repurchase
program announced on May 22, 2007.
"We are pleased to have repurchased shares at what, we believe, is a
significant discount to the long term intrinsic value of the Company's
businesses," said Dr. Paul E. Jacobs, chief executive officer of QUALCOMM.
"Our continued business execution, strong balance sheet and positive cash
flows enable us to return capital to stockholders while making substantial
investments in new technologies and future growth opportunities."
Since fiscal 2003, QUALCOMM has returned approximately $6.3 billion of
capital to stockholders, including approximately $2.3 billion in dividends and
approximately $4.0 billion through the repurchase of approximately 101 million
shares of its common stock.
The current stock repurchase program has no expiration date. The timing
of stock repurchases and the number of shares of common stock to be
repurchased will depend upon prevailing market conditions and other factors.
Repurchases under this program will be made using the Company's cash resources
and may be commenced or suspended at any time or from time-to-time at
management's discretion without prior notice. Repurchases may be made in the
open market, through 10b5-1 programs, in privately negotiated transactions, or
through the use of derivative securities. The Company had approximately 1.6
billion shares of common stock outstanding as of August 24, 2007.
QUALCOMM Incorporated (http://www.qualcomm.com) is a leader in developing
and delivering innovative digital wireless communications products and
services based on CDMA and other advanced technologies. Headquartered in San
Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 2007 FORTUNE
500(R) company traded on The Nasdaq Stock Market(R) under the ticker symbol
QCOM.
QUALCOMM is a registered trademark of QUALCOMM Incorporated. All other
trademarks are the property of their respective owners.
|
|
|
