SAN DIEGO -- Aug. 25, 1999 -- Today Qualcomm Incorporated (Nasdaq: QCOM) announced it has been named to FORTUNE's America's 100 Fastest-Growing Companies list. Qualcomm jumped to No. 16 on the list, up from No. 74 in 1998. FORTUNE's 1999 list will appear in the September 6 issue and recognizes Qualcomm for growth in its profits, revenue and total stock market return.
"We are honored to be recognized by FORTUNE as one of America's Fastest-Growing Companies," said Dr. Irwin M. Jacobs, chairman and CEO of Qualcomm. "The worldwide acceptance of Qualcomm's Code Division Multiple Access (CDMA) digital technology and the commitment by each of our 9,500 employees has accelerated Qualcomm's exciting growth and ability to provide innovative solutions for the global wireless marketplace."
FORTUNE cited Qualcomm's sleek phones and its superior communications technology as reasons that propelled the company towards the top of the list to No. 16. Qualcomm's CDMA technology has been selected as the technology of choice for future third generation (3G) wireless systems worldwide.
FORTUNE joined with Zacks Investment Research to compile the list of the 100 Fastest-Growing Companies. To be eligible for inclusion on the list, the companies must be U.S-based, in operation for more than three years, and have at least $50 million in revenues and market capitalization. In addition, companies needed a 30 percent annual growth rate in both revenue and earnings per share over three years, and were judged by total stock market return during that same period. The FORTUNE ranking was determined by how companies rank in earnings-per-share growth, revenue growth and total return over the last three years.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's major business areas include CDMA phones; integrated CDMA chipsets and system software; technology licensing; and satellite-based systems including OmniTRACS® and portions of the Globalstar™ system. Headquartered in San Diego, Calif., Qualcomm is included in theS&PIndex and is a FORTUNE 500® company traded on the Nasdaq under the ticker symbol QCOM.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including timely product development, the Company's ability to successfully manufacture significant quantities of CDMA or other equipment on a timely and profitable basis, and those related to performance guarantees, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 27, 1998, and most recent Form 10-Q.
Qualcomm and OmniTRACS are registered trademarks of Qualcomm Incorporated. Globalstar is a trademark of Loral Qualcomm Satellite Services, Incorporated. All other trademarks are the property of their respective owners.
SOURCE Qualcomm Incorporated
August 25, 1999August 25, 1999