iBAHN Named Preferred WiFi Provider for Peninsula Hotels World-wide

Guest satisfaction improves as seventh luxury Peninsula hotel installs iBAHN WiFi services
HONG KONG /PRNewswire/ — iBAHN, a global leader in IP platform-based systems and broadband technologies for hospitality, retail, enterprise and venues has been named the preferred WiFi vendor for The Peninsula Hotels. This announcement coincides with the completed iBAHN installation in the seventh Peninsula Hotel, The Peninsula New York.
“The Peninsula Hotels only offers the latest innovative modern technology to our guests and conference organisers. Since installing iBAHN’s secure broadband wireless and wired Internet connectivity, we have seen an increase in our guest satisfaction scores and a significantly lower support call rate regarding broadband connections. We have moved from 50 to 60 technical calls from guests per month regarding Internet connection to only 5 calls per month since installing iBAHN,” said Shane Izaks, General Manager, Information Technology, The Hongkong and Shanghai Hotels, Limited, parent company of The Peninsula Hotels.
Matt Mitchell, Managing Director iBAHN APAC, has worked closely with The Peninsula Hotels to oversee the installations, from site survey through to ongoing global service and support. “The Peninsula Hotels is a pioneer in hotel technology and is known for flawless guest service and extraordinary experiences. We are privileged to work closely with them in analysing guest needs and jointly developing the very latest WiFi solutions to meet these needs.”
Together with sister Peninsula properties in Tokyo, Shanghai, Beijing, Beverly Hills, Chicago and Hong Kong, The Peninsula New York has installed iBAHN’s secure WiFi as well as secure wired Internet connectivity in all guestrooms.
The public areas at all Peninsula hotels have access to fast, secure WiFi coverage with iBAHN’s network specifically designed to support iPads and tablets, a feature that is increasingly expected by discerning guests.
iBAHN’s Bandwidth Management technology has also been installed at all the aforementioned Peninsula hotels, allowing VIP guests to access additional speed and bandwidth via a Connect Code.
About iBAHN
iBAHN creates exceptional information and entertainment experiences for people on the move.
iBAHN is a partner with business owners in the hospitality, conference, food service and retail industries. We complement business strategy with managed services enabling connectivity, entertainment and information over a dedicated enterprise grade IP platform.
The iBAHN managed network operates in more than 50 countries across six continents delivering connectivity, information and entertainment to tablets, laptops, mobile phones and flat screens. Three million times a month, business owners, people on the move and more than half of the Fortune 500 companies rely on iBAHN solutions.
For more information, visit http://www.ibahn.com.
About The Hongkong and Shanghai Hotels, Limited (HSH)
Incorporated in 1866 and listed on The Stock Exchange of Hong Kong (00045), HSH is the holding company of a Group which is engaged in the ownership, development and management of prestigious hotel, commercial and residential properties in key locations in Asia, the United States and Europe, as well as the provision of transport, club management and other services. The hotel portfolio of the Group comprises The Peninsula Hotels in Hong Kong, Shanghai, Beijing, New York, Chicago, Beverly Hills, Tokyo, Bangkok, Manila and Paris (opening in 2013). The property portfolio of the Group includes The Repulse Bay Complex, The Peak Tower and The Peak Tramways, St. John’s Building, The Landmark in Ho Chi Minh City, Vietnam and the Thai Country Club in Bangkok, Thailand.
For further information:
Lara McLaren
iBAHN – Marketing & Communications, APAC
+61 410445272
lmclaren@ibahn.com
Source: iBAHN

UBM Asia Launches Taiwan Jewellery & Gem Fair

To be Held 15-18 November 2013 in Taipei
TAIPEI /PRNewswire/ — For many years Taiwan has had a strong jewellery manufacturing and processing industry that exports high quality products around the world. In recent years, the surge in tourists from Mainland China has fueled a rapid expansion of the domestic market. Chinese tourists are avid buyers of coral, diamond and jadeite jewellery, and this in turn has created strong demand from Taiwan’s jewellery manufacturers for loose stones, mountings and materials, and from retailers for finished jewellery.

A deluxe design piece from Taiwan new generation designer

a Taiwan designer piece

coral brooch, nowadays highly welcomed by Chinese tourists

loose pearl, ideal product for Taiwan jewelry stores to source from this B2B show
On the back of this expansion in the market there have been calls from within the industry to hold an international, professional jewellery exhibition in Taiwan. Responding to this demand, UBM Asia and the Taiwan Jewelry Industry Association have joined forces, supported by the Taipei Jewelers’ Association, to launch the first Taiwan Jewellery & Gem Fair which will be held 15-18 November 2013 at the Taipei World Trade Center.
The Taiwan Jewellery & Gem Fair, a high-end, professional jewellery event that aims to provide an opportunity for international jewellery suppliers to meet with local buyers, as well as to serve as a platform for the domestic jewellery industry to do business. The timing of the exhibition has been chosen because November is the time of year when jewellery retailers in Taiwan purchase inventory ahead of the busy Christmas, New Year, Chinese New Year and Valentine’s Day jewellery buying season.
Christopher Eve, Senior Vice President of UBM Asia Ltd., commented: “We received strong requests from within the Taiwan jewellery industry, as well as from international suppliers of jewellery products, for us to hold a professional jewellery event in Taiwan. We are delighted to be working closely with the Taiwan Jewelry Industry Association on this exciting new launch.”
Mr. Hsin Tsai Hsiao, Chairman of the Taiwan Jewelry Industry Association, co-organiser of the Fair said: “We are very glad to work with UBM Asia, the world-class jewellery fair organizer, to launch this brand-new event in Taiwan. I am sure not only local and international exhibitors will benefit from the fair, but also visitors, creating a real win-win situation for all parties.”
Mr. Wen Ching Lee, Chairman of the Taipei Jewelers’ Association, supporter of the Fair said: “Taiwan has long lacked a B2B jewellery fair. The launch of the Taiwan Jewellery & Gem Fair will help serve our members’ sourcing demand and upgrade the Taiwan jewellery industry. Our members and I are very much looking forward to it.”
The venue chosen for the Taiwan Jewellery & Gem Fair is the Taipei World Trade Center Exhibition Hall 3, located in adjacent to the stunning Taipei 101 Tower, the Grand Hyatt Taipei Hotel and situated in the bustling Xinyi commercial district of central Taipei.
About UBM Asia (www.ubmasia.com)
Owned by UBM plc listed on the London Stock Exchange, UBM Asia is headquartered in Hong Kong and operates in all of the major countries across Asia. It has over 240 products including trade fairs, conferences, trade publications and on-line media. As Asia’s leading exhibition organiser, it stages market-leading events in numerous industries across the region. In the jewellery market, it organises several jewellery exhibitions including the Hong Kong Jewellery & Gem Fair, which is the largest jewellery event in the world.
For more information please contact:
Sabine Liu
UBM Asia Ltd., Taiwan Branch
Tel: +886-2-27383898
Email: sabine.liu@ubm.com
Source: UBM Asia Ltd., Taiwan Branch

Objet Launches ‘Scholar’ – An Accessible & Affordable 3D Printer Package for Academia

Package includes professional Objet30 Scholar 3D Printer, choice of 2 or 3 year supply of materials, water-jet system, training, maintenance and technical support*
Objet30 Scholar will be on display at the ASME International Mechanical Engineering Congress & Exposition, 11-15 November, 2012, in the USA
REHOVOT, Israel, Nov. 8, 2012 /PRNewswire/ — Objet Ltd., the innovation leader in 3D printing for rapid prototyping and additive manufacturing, today announced the release of an accessible, attractively-priced and all-inclusive 3D printing package for schools, colleges, universities and institutes of higher education.

Objet30 Scholar Desktop 3D Printer on Stand with 3D Printed Model

Objet30 Scholar Professional Printer Package is now available
“The Objet30 Scholar Package was developed to make Objet’s 3D printing systems and solutions even more accessible to the strategically important education market,” says Gilad Gans, Executive Vice President for Objet. “It provides students and faculties across multiple disciplines – particularly STEM curriculum studies – with increased opportunities to create and prototype advanced design ideas.”

Tailor-made 3D printing solutions for the education market is a strategic objective of Objet. The company’s 3D Printers have been adopted by many of the world’s leading universities and research departments, including Virginia Tech, University of New Orleans, Art Center College of Design, Purdue University, and The Technion.

The package was designed with educators in mind allowing academic institutions to focus on creativity. It includes the Objet30 Scholar professional desktop 3D Printer; two or three year supply of rigid opaque 3D printing materials (Objet RGD240 rigid blue and support material) which Objet will store and deliver on-demand; a desktop Water-Jet system to remove the support material; training for users; maintenance of the 3D Printer; and technical support. Objet30 Scholar customers are also entitled to further discounted 3D printing material re-fill packages.

The Objet30 Scholar provides 28 micron layer accuracy and the material features high-detail visualization for simulating the precise look of standard plastic products. As well as giving students the ability to develop a 3D printing project portfolio, the Objet30 Scholar package provides graduates and post-graduates with valuable knowledge and experience that can help support future design and manufacturing careers in Fortune 500 companies that operate similar professional 3D printing systems.

About the Objet30 Scholar Package

Ultra-high resolution accuracy, typically 0.1 mm (0.0039 inch)
Produces models with smooth surfaces, fine details & moving parts
Suitable for small spaces, offices and desktop operation
Can be used with all types of 3D CADsoftware
Tray Size (XxYxZ) 300x200x150mm (11.81×7.87×5.9 inches)
Package Benefits

A one-time package for 2 or 3 years
No material storage headaches
On-demand materials, delivered when needed
High resolution 3D printing for simulating the precise look of students’ intended end product
To find out more about the Objet Scholar Package, contact us at info@objet.com, or visit our Education website.

*Material quantities are limited to either 2 or 3 year packages.

Resources for Media

Objet Education Website
Objet30 Scholar Video
Website Objet30 Scholar Package
Education on Facebook – 3D Printing on Campus
Objet30 Scholar Package brochure
Objet Education YouTube
Objet Education Blog
About Objet

Objet Ltd. is a leading provider of high quality, cost effective inkjet-based 3D printing systems and materials. A global company, Objet has offices in North America, Europe, Japan, China, Hong Kong, and India.

Objet’s 3D printing systems and 3D printing materials are ideal for any company involved in the manufacture or design of physical products using 3D software or other 3D content. Companies using Objet’s solutions can be typically found in sectors such as consumer goods & electronics, aerospace & defense, automotive, education, dental, medical and medical devices, architecture, industrial machinery, footwear, sporting goods, toys and service bureaus.

Founded in 1998, the company has thousands of customers worldwide including a substantial share of the relevant Fortune 100 and Fortune 500. Its award-winning technology (13 awards in 8 years) is based upon over 110 patents and patent pending inventions.

Objet’s advanced 3D printing systems and range of over 100 materials enable professionals to build prototypes that accurately simulate the true look, feel and function of an end-product, even complex, assembled goods. The Objet Connex™ line of multi-material 3D printers features the world’s only technology to simultaneously jet 2 materials. With this, users can print many different materials into a single part and print various mixed parts on the same build tray. Users can also create advanced composite materials, or Digital Materials™ featuring unique mechanical and thermal properties. Objet’s range of over 100 3D printing materials simulate properties ranging from rigid to rubber-like, transparent to opaque and standard to ABS-grade engineering plastics, with a large number of in-between shore grades and shades.

Objet’s 3D printers are available in a range of form-factors, from cost-effective desktop 3D printers ideal for entry-level professionals all the way to industrial-scale multi-material machines for front-line designers and top manufacturers. Objet’s 3D printers feature the industry’s highest-resolution 3D printing quality, based on 16-micron (0.0006 in.) super-thin layering, wide material versatility, office friendliness and ease of operation.

For more information, visit us at http://www.objet.com, and for more about 3D printing industry-related news, business issues and trends, read the Objet blog.

© 2012 Objet, Objet24, Objet30, Objet Studio, Quadra, QuadraTempo, FullCure, SHR, Eden, Eden250, Eden260, Eden260V, Eden330, Eden350, Eden350V, Eden500V, Job Manager, CADMatrix, Connex, Connex260, Connex350, Connex500, Alaris, Alaris30, PolyLog, TangoBlack, TangoGray, TangoPlus, TangoBlackPlus, VeroBlue, VeroBlack, VeroClear, VeroDent, VeroGray, VeroWhite, VeroWhitePlus, Durus, Digital Materials, PolyJet, PolyJet Matrix, ABS-like and ObjetGreen are trademarks or registered trademarks of Objet Ltd. and may be registered in certain jurisdictions. All other trademarks belong to their respective owners.

Objet Media Contacts

Asia Pacific
Objet AP Ltd
Vicki Kei
Tel: +852-3844-8813
Email: vicki.kei@objet.com Japan
Objet Japan
Aya Yoshizawa
Tel: +81-90-6473-1812
Email: aya.yoshizawa@objet.com
Korea
Jihyun Lee
The Hoffman Agency Korea
Tel: +82-10-3408-1609
Email. jhlee@hoffman.com Objet
Arita Mattsoff
Objet
Tel: +972-(0)74-745-4000
Email. arita@objet.com

Rogers International Commodity Index (RICI) Committee Adjusts Index Components

MIAMI, Nov. 8, 2012 /PRNewswire/ — Jim Rogers and Beeland Interests, Inc. announced today the following adjustments to the Rogers International Commodity Index® (RICI®).

The RICI Committee has decided to replace ICE Coffee (2.0% Index Weight) with NYSE Liffe Coffee. In addition, ICE Cocoa (1.0% Index Weight) will be replaced by NYSE Liffe Cocoa. The addition of NYSE Liffe Cocoa, traded in GBP, will add that currency to the Index. These changes will be implemented during the January 2013 roll period, occurring at the end of January 2013.

The RICI represents the value of a compendium (or “basket”) of globally traded commodities (37 commodity futures contracts) employed in the global economy, ranging from agricultural and energy products to metals and minerals. The RICI and its various sub-indexes are used by many investment banks and investors throughout the world. As of the end of October 2012, the RICI had increased by over 266% since inception.

Jim Rogers, an advocate of commodities-based investing, created the RICI in 1997 and 1998 and is the CEO of Beeland Interests, Inc., the owner of the Index. The RICI Committee, currently chaired by Jim Rogers, determines the Index components and weights. Jim Rogers also is the author of Investment Biker, Adventure Capitalist, Hot Commodities, A Bull In China, A Gift to My Children and Street Smarts – Adventures on the Road and in the Markets.

“Jim Rogers”, “James Beeland Rogers, Jr.”, and “Rogers” are trademarks and service marks of, and “Rogers International Commodity Index” and “RICI” are registered trademarks and service marks of, Beeland Interests, Inc., which is owned and controlled by James Beeland Rogers, Jr., and are used subject to license. The personal names and likeness of Jim Rogers/James Beeland Rogers, Jr. are owned and licensed by James Beeland Rogers, Jr.

Sunshine Oilsands Obtains Conditional Approval to List on the Toronto Stock Exchange

HONG KONG /PRNewswire/ — Sunshine Oilsands Ltd. (“Sunshine”) (Stock Code: 2012.HK) is pleased to announce that it has obtained conditional approval to list its Class “A” Common Voting Shares (the “Common Shares”) on the Toronto Stock Exchange (the “TSX”) under the symbol “SUO”. The Common Shares are expected to commence trading on the TSX after the TSX’s conditions for listing are satisfied and the TSX issues its final exchange bulletin and its approval of the listing of the Common Shares.
Sunshine will issue an announcement once the TSX confirms satisfaction of its listing conditions and will then advise of the expected listing date. Sunshine will maintain its primary listing on The Stock Exchange of Hong Kong.
Mr. Songning Shen, Co-Chairman of Sunshine Oilsands, said, “The Company is planning for a secondary listing in Toronto, which will not raise additional funds as it is a listing by introduction. A dual listing on Hong Kong and Canada has always been part of the Company’s business development plans, and the management remains committed to its strategic development in Asia and China.”
“Sunshine Oilsands has focused on the development of its oil sands business in Canada since 2007. A secondary listing in Canada will help expand the Company’s investor base and boost the liquidity of its shares. In addition to strong support from its cornerstone investors in Asia, such as Sinopec, CIC, Bank of China Group Investment, China Life and Orient Group, the Company has a strong financial position which is sufficient to meet its future development needs,” said Mr. Shen.
About Sunshine Oilsands Ltd.
Sunshine Oilsands Ltd. is one of the largest non-partnered holders of oil sands leases by area in the Athabasca oil sands region, which is located in the province of Alberta, Canada. Since the Company’s incorporation on 22 February 2007, Sunshine has secured over 464,897 hectares (1,148,785 acres) of oil sands leases (equal to approximately 7% of all granted leases in this area).
The Company’s principal operations are the exploration, development and production of its diverse portfolio of oil sands leases. Its principal operating regions in the Athabasca area are at West Ells, Thickwood, Legend Lake, Harper, Muskwa, Goffer, Pelican and Portage. Sunshine’s oil sands leases are grouped into three main asset categories: clastics, carbonates and conventional heavy oil.
For further enquiries, please contact:
Sunshine Oilsands Ltd.
Mr. John Zahary
President & CEO
or
Mr. David Sealock
Executive VP, Corporate Operations
Tel: +1-403-984-1446
Email: investorrelations@sunshineoilsands.com
Website: http://www.sunshineoilsands.com
Source: Sunshine Oilsands Ltd.

Qualcomm Announces Fourth Quarter and Fiscal 2012 Results

Fiscal 2012 Revenues $19.1 Billion

GAAP EPS $3.51, Non-GAAP EPS $3.71

– Record Fiscal 2012 Results –

SAN DIEGO, Nov. 8, 2012 /PRNewswire/ — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the fourth fiscal quarter and year ended September 30, 2012.

“I am very pleased with our performance this year. We delivered record revenues, earnings and MSM chipset shipments driven by increasing global consumption of wireless data across a diverse range of devices, particularly smartphones,” said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. “As we continue to invest in and execute on our strategic priorities, our broad licensing program and industry-leading Snapdragon and 3G/LTE chipset roadmap position us for double-digit revenue growth again in fiscal 2013.”

GAAP Results
Qualcomm’s results are reported in accordance with generally accepted accounting principles (GAAP).

Fourth Quarter Fiscal 2012

Revenues: 1 $4.87 billion, up 18 percent year-over-year (y-o-y) and 5 percent sequentially.
Operating income: 1 $1.24 billion, even y-o-y and down 11 percent sequentially.
Net income: 2 $1.27 billion, up 20 percent y-o-y and 5 percent sequentially.
Diluted earnings per share: 2 $0.73, up 18 percent y-o-y and 6 percent sequentially.
Effective tax rate: 1 19 percent for the quarter.
Operating cash flow: $1.41 billion, down 23 percent y-o-y; 29 percent of revenues.
Return of capital to stockholders: $1.27 billion, including $426 million, or $0.25 per share, of cash dividends paid, and $841 million through repurchases of 15.3 million shares of common stock.
1 Throughout this news release, the results of FLO TV are presented as discontinued operations. Revenues, operating expenses, operating income, earnings before tax (EBT) and effective tax rates are from continuing operations (i.e., before discontinued operations and adjustments for noncontrolling interests), unless otherwise stated.
2 Throughout this news release, net income and diluted earnings per share are attributable to Qualcomm (i.e., after discontinued operations and adjustments for noncontrolling interests), unless otherwise stated.

Fiscal 2012*

Revenues: $19.12 billion, up 28 percent y-o-y.
Operating income: $5.68 billion, up 13 percent y-o-y.
Net income: $6.11 billion, up 43 percent y-o-y.
Diluted earnings per share: $3.51, up 39 percent y-o-y.
Effective tax rate: 19 percent.
Operating cash flow: $6.00 billion, up 22 percent y-o-y; 31 percent of revenues.
Return of capital to stockholders: $2.90 billion, including $1.58 billion, or $0.93 per share, of cash dividends paid, and $1.31 billion through repurchases of 23.9 million shares of common stock.
Non-GAAP Results
Non-GAAP results exclude the QSI segment, certain share-based compensation, certain acquisition-related items and certain tax items.

Fourth Quarter Fiscal 2012

Revenues: $4.87 billion, up 18 percent y-o-y and 5 percent sequentially.
Operating income: $1.61 billion, down 1 percent y-o-y and 6 percent sequentially.
Net income: $1.55 billion, up 13 percent y-o-y and 4 percent sequentially.
Diluted earnings per share: $0.89, up 11 percent y-o-y and 5 percent sequentially. Excludes $0.01 earnings per share attributable to QSI, $0.13 loss per share attributable to certain share-based compensation, $0.04 loss per share attributable to certain acquisition-related items and $0.01 earnings per share attributable to certain tax-related items. The sum of Non-GAAP earnings per share and items excluded do not equal GAAP earnings per share due to rounding.
Effective tax rate: 19 percent for the quarter.
Free cash flow (defined as net cash from operating activities less capital expenditures): $1.24 billion, down 27 percent y-o-y; 25 percent of revenues.
Fiscal 2012*

Revenues: $19.12 billion, up 28 percent y-o-y.
Operating income: $7.10 billion, up 17 percent y-o-y.
Net income: $6.46 billion, up 20 percent y-o-y.
Diluted earnings per share: $3.71, up 16 percent y-o-y. Excludes $0.40 earnings per share attributable to QSI, $0.47 loss per share attributable to certain share-based compensation, $0.14 loss per share attributable to certain acquisition-related items and $0.01 earnings per share attributable to certain tax-related items.
Effective tax rate: 20 percent.
Free cash flow: $5.20 billion, up 8 percent y-o-y; 27 percent of revenues.
Detailed reconciliations between results reported in accordance with GAAP and Non-GAAP results are included within this news release.

* The following should be considered in regards to the year-over-year comparisons: Fiscal 2012 GAAP results included $776 million in earnings, net of income taxes, for discontinued operations (primarily a result of a $1.2 billion gain associated with the sale of substantially all of our 700 MHz spectrum), as compared to a $313 million loss, net of income taxes, for discontinued operations in fiscal 2011. Additionally, fiscal 2012 GAAP and Non-GAAP results included Qualcomm Atheros, Inc., which was acquired on May 24, 2011, as compared to fiscal 2011 GAAP and Non-GAAP results, which only included Qualcomm Atheros, Inc. from the date of the acquisition. Fiscal 2011 operating and free cash flows reflected the impact of a $1.5 billion income tax payment primarily related to license and settlement agreements entered into in fiscal 2008.

Key Business Metrics

Fourth Quarter Fiscal 2012

MSMTM chip shipments: 141 million units, up 11 percent y-o-y and even sequentially.
June quarter total reported device sales: approximately $46.5 billion, up 19 percent y-o-y and down 3 percent sequentially.
June quarter estimated 3G/4G device shipments: approximately 210 to 214 million units, at an estimated average selling price of approximately $216 to $222 per unit.
Fiscal 2012

MSM chip shipments: 590 million units, up 22 percent y-o-y.
Total reported device sales: approximately $187.3 billion, up 25 percent y-o-y.
Estimated 3G/4G device shipments: approximately 846 to 863 million units, at an estimated average selling price of approximately $216 to $222 per unit.
Cash and Marketable Securities
Our cash, cash equivalents and marketable securities totaled $26.8 billion at the end of the fourth quarter of fiscal 2012, compared to $20.9 billion a year ago and $26.5 billion at the end of the third quarter of fiscal 2012. On October 17, 2012, we announced a cash dividend of $0.25 per share payable on December 21, 2012 to stockholders of record as of December 7, 2012. Since September 30, 2012, we repurchased and retired 4.1 million shares of common stock for $240 million.

Research and Development

($ in millions) Non-GAAP QSI Share-Based
Compensation GAAP

Fourth quarter fiscal 2012 $ 961 $ 1 $ 152 $ 1,114
As % of revenues 20% 23%
Fourth quarter fiscal 2011 $ 731 $ 1 $ 119 $ 851
As % of revenues 18% 21%
Year-over-year change ($) 31% N/M 28% 31%

N/M – Not Meaningful

Non-GAAP research and development (R&D) expenses increased 31 percent y-o-y primarily due to an increase in costs related to the development of CDMA-based 3G, OFDMA-based 4G LTE and other technologies for integrated circuit and related software products and to expand our intellectual property portfolio.

Selling, General and Administrative

($ in millions) Non-GAAP QSI Share-Based
Compensation Acquisition-Related
Items GAAP

Fourth quarter fiscal 2012 $ 545 $3 $ 112 $ 21 $681
As % of revenues 11% 14%
Fourth quarter fiscal 2011 $ 371 $8 $ 110 $ 42 $531
As % of revenues 9% 13%
Year-over-year change ($) 47% N/M 2% N/M 28%

N/M – Not Meaningful

Non-GAAP selling, general and administrative (SG&A) expenses increased 47 percent y-o-y primarily due to a long-lived asset impairment charge related to our QMT division and increases in employee-related expenses, costs relating to legal matters, selling and marketing expenses and patent-related expenses.

Effective Income Tax Rates
Our fiscal 2012 effective income tax rates were 19 percent for GAAP and 20 percent for Non-GAAP. The fiscal 2012 GAAP and Non-GAAP effective tax rates only reflect the United States federal R&D credit generated through December 31, 2011, the date on which the credit expired. The fiscal 2012 GAAP effective tax rate included a tax benefit of $10 million related to the completion of the audit of our fiscal 2005 through fiscal 2008 state tax returns. This tax benefit was excluded from our Non-GAAP results.

QSI Segment
QSI makes strategic investments, many of which are in early-stage companies, and holds wireless spectrum. QSI also includes the discontinued operations of our FLO TV business. GAAP results for the fourth quarter of fiscal 2012 included $0.01 earnings per share for QSI.

Business Outlook
The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our annual and quarterly reports on file with the Securities and Exchange Commission (SEC) provide a more complete description of risks.

Our outlook does not include provisions for future asset impairments or for pending legal matters, other than future legal amounts that are probable and estimable. Further, due to their nature, certain income and expense items, such as realized investment and certain derivative gains or losses, cannot be accurately forecast. Accordingly, we only include such items in our business outlook to the extent they are reasonably certain; however, actual results may vary materially from the business outlook.

The following table summarizes GAAP and Non-GAAP guidance based on the current business outlook. The Non-GAAP business outlook presented below is consistent with the presentation of Non-GAAP results included elsewhere herein.

Qualcomm’s Business Outlook Summary
FIRST FISCAL QUARTER
Q1 FY12 Current Guidance
Results Q1 FY13 Estimates

Revenues $4.68B $5.6B – $6.1B
Year-over-year change increase 20% – 30%
Non-GAAP Diluted earnings per share (EPS) $0.97 $1.08 – $1.16
Year-over-year change increase 11% – 20%
Diluted EPS attributable to QSI ($0.01) ($0.01)
Diluted EPS attributable to share-based compensation ($0.11) ($0.13)
Diluted EPS attributable to acquisition-related items ($0.03) ($0.04)
Diluted EPS attributable to tax items N/A N/A
GAAP Diluted EPS $0.81 $0.90 – $0.98
Year-over-year change increase 11% – 21%

Metrics
MSM chip shipments 156M 168M – 178M
Year-over-year change increase 8% – 14%
Total reported device sales (1) approx. $41.4B* approx. $46.0B – $51.0B*
Year-over-year change increase 11% – 23%
*Est. sales in September quarter, reported in December quarter

FISCAL YEAR
FY 2012 Current Guidance
Results (2) FY 2013 Estimates
Revenues $19.12B $23.0B – $24.0B
Year-over-year change increase 20% – 26%
Non-GAAP Operating Income $7.10B $8.1B – $8.6B
Year-over-year change increase 14% – 21%
Operating loss attributable to QSI ($0.12B) ($0.05B)
Operating loss attributable to share-based compensation ($1.04B) ($1.15B)
Operating loss attributable to acquisition-related items ($0.27B) ($0.30B)
GAAP Operating Income $5.68B $6.6B – $7.1B
Year-over-year change increase 16% – 25%
Non-GAAP Diluted EPS $3.71 $4.12 – $4.32
Year-over-year change increase 11% – 16%
Diluted EPS attributable to QSI $0.40 ($0.04)
Diluted EPS attributable to share-based compensation ($0.47) ($0.53)
Diluted EPS attributable to acquisition-related items ($0.14) ($0.15)
Diluted EPS attributable to tax items $0.01 N/A
GAAP Diluted EPS $3.51 $3.40 – $3.60
Year-over-year change decrease 3% – increase 3%

Metrics
Est. fiscal year* 3G/4G device average selling price range (1) approx. $216 – $222 approx. $214 – $226
*Shipments in Sept. to June quarters, reported in Dec. to Sept. quarters

CALENDAR YEAR Device Estimates (1)
Prior Guidance
Calendar 2012
Estimates Current Guidance
Calendar 2012
Estimates Current Guidance
Calendar 2013
Estimates
Est. 3G/4G device shipments
March quarter approx. 206M – 211M approx. 206M – 211M not provided
June quarter not provided approx. 210M – 214M not provided
September quarter not provided not provided not provided
December quarter not provided not provided not provided
Est. calendar year range (approx.) 875M – 935M 880M – 930M 1,000M – 1,070M
Est. calendar year midpoint (approx.) (3) 905M 905M 1,035M

(1) Total reported device sales is the sum of all reported sales in U.S. dollars (as reported to us by our licensees) of all licensed CDMA-based, OFDMA-based and multimode CDMA/OFDMA subscriber devices (including handsets, modules, modem cards and other subscriber devices) by our licensees during a particular period (collectively, 3G/4G devices). The reported quarterly estimated ranges of average selling prices (ASPs) and unit shipments are determined based on the information as reported to us by our licensees during the relevant period and our own estimates of the selling prices and unit shipments for licensees that do not provide such information. Not all licensees report sales, selling prices and/or unit shipments the same way (e.g., some licensees report selling prices net of permitted deductions, such as transportation, insurance and packing costs, while other licensees report selling prices and then identify the amount of permitted deductions in their reports), and the way in which licensees report such information may change from time to time. Total reported device sales, estimated unit shipments and estimated ASPs for a particular period may include prior period activity that was not reported by the licensee until such particular period.
(2) Fiscal 2012 results for QSI and GAAP included $0.44 EPS related to a $1.2 billion gain associated with the sale of substantially all of our 700 MHz spectrum, which was recognized in discontinued operations and was excluded from Non-GAAP results.
(3) The midpoints of the estimated calendar year ranges are identified for comparison purposes only and do not indicate a higher degree of confidence in the midpoints.

Sums may not equal totals due to rounding.

Results of Business Segments
The following table reconciles our Non-GAAP results to our GAAP results (in millions, except per share data):

SEGMENTS QCT QTL QWI Non-GAAP Reconciling Items (1) Non-GAAP (2) QSI (2)
Share-Based
Compensation (2) Acquisition- Related Items (2) (3) Tax Items (4) GAAP
Q4 – FISCAL 2012
Revenues $3,129 $1,572 $161 $9 $4,871 $ – $ – $ – $ – $4,871
Change from prior year 21% 16% (1%) 50% 18% 18%
Change from prior quarter 9% (1%) 1% N/M 5% 5%
Operating income (loss) $1,612 ($4) ($284) ($89) $ – $1,235
Change from prior year (1%) 56% (13%) 29% 0%
Change from prior quarter (6%) 64% (8%) (46%) (11%)
EBT $486 $1,370 ($1) $65 $1,920 ($21) ($284) ($89) $ – $1,526
Change from prior year (15%) 15% 80% N/M 11% 38% (13%) 29% 15%
Change from prior quarter 3% (3%) 83% 33% 0% (31%) (8%) (46%) (3%)
EBT as % of revenues 16% 87% N/M N/M 39% 31%
Discontinued operations, net of tax (5) $ – $23 $ – $ – $ – $23
Net income (loss) $1,547 $14 ($222) ($78) $ 10 $1,271
Change from prior year 13% N/M (4%) 35% (75%) 20%
Change from prior quarter 4% N/M (6%) (34%) N/A 5%
Diluted EPS $0.89 $0.01 ($0.13) ($0.04) $0.01 $0.73
Change from prior year 11% N/M (8%) 43% (50%) 18%
Change from prior quarter 5% N/M (8%) (33%) N/A 6%
Diluted shares used 1,745 1,745 1,745 1,745 1,745 1,745
Q3 – FISCAL 2012
Revenues $2,869 $1,593 $160 $4 $4,626 $ – $ – $ – $ – $4,626
Operating income (loss) 1,718 (11) (264) (61) – 1,382
EBT $472 $1,407 ($6) $49 1,922 (16) (264) (61) – 1,581
Discontinued operations, net of tax (5) – (3) – – – (3)
Net income (loss) 1,486 (11) (210) (58) – 1,207
Diluted EPS $0.85 ($0.01) ($0.12) ($0.03) $ – $0.69
Diluted shares used 1,758 1,758 1,758 1,758 1,758 1,758
Q1 – FISCAL 2012
Revenues $3,085 $1,440 $152 $4 $4,681 $ – $ – $ – $ – $4,681
Operating income (loss) 1,871 (13) (247) (60) – 1,551
EBT $739 $1,267 $1 $55 2,062 (34) (247) (60) – 1,721
Discontinued operations, net of tax (5) – (5) – – – (5)
Net income (loss) 1,672 (22) (194) (55) – 1,401
Diluted EPS $0.97 ($0.01) ($0.11) ($0.03) $ – $0.81
Diluted shares used 1,721 1,721 1,721 1,721 1,721 1,721
Q4 – FISCAL 2011
Revenues $2,587 $1,361 $163 $6 $4,117 $ – $ – $ – $ – $4,117
Operating income (loss) 1,624 (9) (252) (125) – 1,238
EBT $569 $1,193 ($5) ($20) 1,737 (34) (252) (125) – 1,326
Discontinued operations, net of tax (5) – (5) (1) – – (6)
Net income (loss) 1,372 (22) (214) (120) 40 1,056
Diluted EPS $0.80 ($0.01) ($0.12) ($0.07) $0.02 $0.62
Diluted shares used 1,716 1,716 1,716 1,716 1,716 1,716
12 MONTHS – FISCAL 2012
Revenues $12,141 $6,327 $633 $20 $19,121 $ – $ – $ – $ – $19,121
Change from prior year 37% 17% (4%) 0% 28% 28%
Operating income (loss) $7,100 ($116) ($1,035) ($267) $ – $5,682
Change from prior year 17% N/M (27%) (28%) 13%
EBT $2,296 $5,585 ($15) $168 $8,034 ($170) ($1,035) ($267) $ – $6,562
Change from prior year 12% 18% 90% (8%) 17% (29%) (27%) (28%) 15%
EBT as a % of revenues 19% 88% N/M N/M 42% 34%
Discontinued operations, net of tax (5) $ – $777 ($1) $ – $ – $776
Net income (loss) $6,463 $690 ($811) ($243) $ 10 $6,109
Change from prior year 20% N/M (30%) (22%) (84%) 43%
Diluted EPS $3.71 $0.40 ($0.47) ($0.14) $0.01 $3.51
Change from prior year 16% N/M (27%) (17%) (75%) 39%
Diluted shares used 1,741 1,741 1,741 1,741 1,741 1,741
12 MONTHS – FISCAL 2011
Revenues $8,859 $5,422 $656 $20 $14,957 $ – $ – $ – $ – $14,957
Operating income (loss) 6,084 (37) (813) (208) – 5,026
EBT $2,056 $4,753 ($152) $183 6,840 (132) (813) (208) – 5,687
Discontinued operations, net of tax (5) – (308) (5) – – (313)
Net income (loss) 5,407 (385) (624) (200) 62 4,260
Diluted EPS $3.20 ($0.23) ($0.37) ($0.12) $0.04 $2.52
Diluted shares used 1,691 1,691 1,691 1,691 1,691 1,691

(1) Non-GAAP reconciling items related to revenues consist primarily of other nonreportable segment revenues less intersegment eliminations. Non-GAAP reconciling items related to earnings before taxes consist primarily of certain costs of equipment and services revenues, research and development expenses, sales and marketing expenses, other operating expenses and certain investment income or losses and interest expense that are not allocated to the segments for management reporting purposes; nonreportable segment results; and the elimination of intersegment profit.
(2) At fiscal year end, the sum of the quarterly tax provision (benefit) for each column equals the annual tax provision (benefit) for each column computed in accordance with GAAP. In interim quarters, the sum of these provisions (benefits) may not equal the total GAAP tax provision, and starting in fiscal 2012, this difference is allocated to tax provisions (benefits) among the columns. In interim quarters of prior years, it was included in QSI because variability in QSI results was considered the primary driver of the difference.
(3) In addition to our historical practice of excluding acquired in-process research and development expenses, starting with acquisitions completed in the third quarter of fiscal 2011, Non-GAAP results also exclude other items related to acquisitions. During fiscal 2012, acquisition-related items consisted of amortization of certain intangible assets, expense associated with the termination of a contract of an acquiree and the recognition of the step-up of inventories to fair value.
(4) During the fourth quarter of fiscal 2012, we recorded a tax benefit of $10 million related to the completion of the audit of our fiscal 2005 through fiscal 2008 state tax returns. Our quarterly and fiscal 2012 Non-GAAP results exclude this item.
(5) During fiscal 2011, we shut down the FLO TV business and network. The results of FLO TV are presented as discontinued operations.

N/M – Not Meaningful

N/A – Not Applicable

Sums may not equal totals due to rounding.

Conference Call
Qualcomm’s fourth quarter and fiscal 2012 earnings conference call will be broadcast live on November 7, 2012, beginning at 1:45 p.m. Pacific Time (PT) at http://www.qualcomm.com/investor. This conference call will include a discussion of “Non-GAAP financial measures” as defined in Regulation G. The most directly comparable GAAP financial measures and GAAP reconciliation information, as well as the other material financial and statistical information to be discussed on the conference call, will be posted at http://www.qualcomm.com/investor immediately prior to commencement of the call. An audio replay will be available at http://www.qualcomm.com/investor and via telephone for 30 days shortly following the live call. To listen to the replay via telephone, U.S. callers may dial (855) 859-2056, and international callers may dial (404) 537-3406. Callers should use reservation number 37726774.

Note Regarding Use of Non-GAAP Financial Measures
The Non-GAAP financial information presented herein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. In addition, “Non-GAAP” is not a term defined by GAAP, and as a result, the Company’s measure of Non-GAAP results might be different than similarly titled measures used by other companies. Reconciliations between GAAP and Non-GAAP results are presented herein.

The Company uses Non-GAAP financial information (i) to evaluate, assess and benchmark the Company’s operating results on a consistent and comparable basis; (ii) to measure the performance and efficiency of the Company’s ongoing core operating businesses, including the QCT, QTL and QWI segments; and (iii) to compare the performance and efficiency of these segments against each other and against competitors outside the Company. Non-GAAP measurements of the following financial data are used by the Company: revenues, cost of revenues, R&D expenses, SG&A expenses, other operating expenses, operating income (loss), net investment income (loss), income (loss) before income taxes, effective tax rate, net income (loss), diluted earnings (loss) per share, operating cash flow and free cash flow. The Company is able to assess what it believes is a more meaningful and comparable set of financial performance measures for the Company and its business segments by using Non-GAAP information. As a result, management compensation decisions and the review of executive compensation by the Compensation Committee of the Board of Directors focus primarily on Non-GAAP financial measures applicable to the Company and its business segments. The Company presents Non-GAAP financial information to provide greater transparency to investors with respect to its use of such information in financial and operational decision-making.

Non-GAAP information used by management excludes QSI, certain share-based compensation, certain acquisition-related items and certain tax items.

QSI is excluded because the Company expects to exit its strategic investments at various times, and the effects of fluctuations in the value of such investments and realized gains or losses are viewed by management as unrelated to the Company’s operational performance.
Share-based compensation expense relates primarily to restricted stock units and stock options. Certain share-based compensation is excluded because management views such expenses as unrelated to the operating activities of the Company’s ongoing core business. Further, the fair values of share-based awards are affected by factors that are variable on each grant date, which may include the Company’s stock price, stock market volatility, expected award life, risk-free interest rates and expected dividend payouts in future years.
In addition to its historical practice of excluding acquired in-process R&D expenses from Non-GAAP results, the Company began excluding amortization of certain intangible assets, recognition of the step-up of inventories to fair value and the related tax effects of these items starting with acquisitions completed in the third quarter of fiscal 2011, as well as any tax effects from restructuring the ownership of such acquired assets. Additionally, starting with acquisitions completed in the fourth quarter of fiscal 2012, the Company began excluding expenses related to the termination of contract(s) that limit the use of the acquired intellectual property. These certain acquisition-related items are excluded and no longer allocated to the Company’s segments because management views such expenses as unrelated to the operating activities of the Company’s ongoing core business. In addition, these charges are impacted by the size and timing of acquisitions, potentially obscuring period to period comparisons of the Company’s operating businesses.
Certain tax items that were recorded in each fiscal year presented, but that were unrelated to the fiscal year in which they were recorded, are excluded in order to provide a clearer understanding of the Company’s ongoing Non-GAAP tax rate and after tax earnings. The Company also excludes any benefit resulting from the retroactive extensions of the federal R&D tax credit from Non-GAAP results because the Company does not include the potential extension of the credit in its business outlook due to uncertainty as to whether and when the federal R&D tax credit will be retroactively extended.
The Company presents free cash flow, defined as net cash provided by operating activities less capital expenditures, to facilitate an understanding of the amount of cash flow generated that is available to grow its business and to create long-term stockholder value. The Company believes that this presentation is useful in evaluating its operating performance and financial strength. In addition, management uses this measure to evaluate the Company’s performance and to compare its operating performance with other companies in the industry.

About Qualcomm
Qualcomm Incorporated (Nasdaq: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visitwww.qualcomm.com.

Note Regarding Forward-Looking Statements
In addition to the historical information contained herein, this news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding our broad licensing program and industry-leading Snapdragon and 3G/LTE chipset roadmap positioning us for double-digit revenue growth in fiscal 2013; the Company’s business outlook; and estimates and guidance related to revenues, GAAP and Non-GAAP diluted earnings per share, effective income tax rates, MSM chip shipments, total reported device sales, 3G/4G device average selling price ranges and 3G/4G device shipment ranges and midpoints. Forward-looking statements are generally identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to risks associated with the commercial deployment of our technologies and our customers’ and licensees’ sales of equipment, products and services based on these technologies; competition; our dependence on a small number of customers and licensees; attacks on our licensing business model, including current and future legal proceedings and actions of governmental or quasi-governmental bodies; our dependence on third-party suppliers, including the potential impact of supply constraints; the enforcement and protection of our intellectual property rights; claims by third parties that we infringe their intellectual property; global economic conditions that impact the communications industry and the potential impact on demand for our products and our customers’ and licensees’ products; our stock price and earnings volatility; strategic transactions and investments; the commercial success of our QMT division’s display technology; foreign currency fluctuations; and failures, defects or errors in our products and services or in the products of our customers and licensees. These and other risks are set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2012 filed with the SEC. Our reports filed with the SEC are available on our website at http://www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.

Qualcomm, Snapdragon and MSM are trademarks of Qualcomm Incorporated, registered in the United States and other countries. All other trademarks are the property of their respective owners.

Qualcomm Incorporated
Supplemental Information for the Three Months Ended September 30, 2012
(Unaudited)

Acquisition- Tax-
Non-GAAP Share-Based Related Related GAAP
Results QSI Compensation Items (a) Items Results
($ in millions, except per share data)

Cost of equipment and services revenues $1,753 $ – $ 20 $ 68 $ – $ 1,841

R&D 961 1 152 – – 1,114

SG&A 545 3 112 21 – 681

Operating income (loss) 1,612 (4) (284) (89) – 1,235

Investment income (loss), net $ 308 (b) $(17) (c) $ – $ – $ – $ 291

Tax rate 19% 19% 22% 12% N/M 19%

Net income (loss) $1,547 $ 14 $ (222) $ (78) $ 10 (d) $ 1,271

Diluted earnings (loss) per share (EPS) $ 0.89 $0.01 $ (0.13) $ (0.04) $0.01 $ 0.73

Operating cash flow $1,476 $(26) $ (41) $ – $ – $ 1,409
Operating cash flow as % of revenues 30% N/A N/A N/A N/A 29%

Free cash flow(e) $1,242 $ (42) $ (41) $ – $ – $ 1,159
Free cash flow as % of revenues 25% N/A N/A N/A N/A 24%

(a) Consisted of amortization of certain intangible assets, expense associated with the termination of a contract of an acquiree and the recognition of the step-up of inventories to fair value.
(b) Included $177 million in interest and dividend income related to cash, cash equivalents and marketable securities, which were not part of our strategic investments and $143 million in net realized gains on investments, partially offset by $5 million in other-than-temporary losses on investments, $4 million in losses on derivatives and $3 million in interest expense.
(c) Included $14 million in other-than-temporary losses on investments, $13 million in interest expense and $3 million in equity in losses of investees, partially offset by $12 million in net realized gains on investments and $1 million in interest and dividend income related to cash, cash equivalents and marketable securities.
(d) Included a tax benefit of $10 million related to the completion of the audit of our fiscal 2005 through fiscal 2008 state tax returns.
(e) Free cash flow is calculated as net cash provided by operating activities less capital expenditures. Reconciliation of these amounts is included in the “Reconciliation of Non-GAAP Free Cash Flows to Net Cash Provided by Operating Activities (GAAP) and Other Supplemental Disclosures” for the three months ended September 30, 2012 included herein.

N/A – Not Applicable

Sums may not equal totals due to rounding.

Qualcomm Incorporated
Supplemental Information for the Twelve Months Ended September 30, 2012
(Unaudited)

Acquisition- Tax-
Non-GAAP Share-Based Related Related GAAP
Results QSI Compensation Items (a) Items Results
($ in millions, except per share data)

Cost of equipment and services revenues $6,796 $ – $ 75 $ 225 $ – $ 7,096

R&D 3,363 6 546 – – 3,915

SG&A 1,839 29 414 42 – 2,324

Other operating expenses 23 81 (b) – – – 104

Operating income (loss) 7,100 (116) (1,035) (267) – 5,682

Investment income (loss), net $ 934 (c) $(54) (d) $ – $ – $ – $ 880

Tax rate 20% 19% 22% 9% N/M 19%

Net income (loss) $6,463 $690 $ (811) $ (243) $ 10 (e) $ 6,109

Diluted earnings (loss) per share (EPS) $ 3.71 $0.40 $ (0.47) $ (0.14) $0.01 $ 3.51

Operating cash flow $6,382 $(216) $ (168) $ – $ – $ 5,998
Operating cash flow as % of revenues 33% N/A N/A N/A N/A 31%

Free cash flow(f) $5,199 $(317) $ (168) $ – $ – $ 4,714
Free cash flow as % of revenues 27% N/A N/A N/A N/A 25%

(a) Consisted of amortization of certain intangible assets, expense associated with the termination of a contract of an acquiree and the recognition of the step-up of inventories to fair value.
(b) QSI results for fiscal 2012 included $81 million in other operating expenses associated with a payment made to the Indian government in connection with the issuance of the BWA spectrum license.
(c) Included $590 million in interest and dividend income related to cash, cash equivalents and marketable securities, which were not part of our strategic investments, $327 million in net realized gains on investments, $76 million in gains on derivatives (primarily due to gains from put options sold as part of our stock repurchase program) and $1 million in equity earnings of investees, partially offset by $49 million in other-than-temporary losses on investments and $11 million in interest expense.
(d) Included $79 million in interest expense, $34 million in other-than-temporary losses on investments and $10 million of equity in losses of investees, partially offset by $42 million in net realized gains on investments, $19 million in interest and dividend income related to cash, cash equivalents and marketable securities and $8 million in gains on derivatives.
(e) Included a tax benefit of $10 million related to the completion of the audit of our fiscal 2005 through fiscal 2008 state tax returns.
(f) Free cash flow is calculated as net cash provided by operating activities less capital expenditures. Reconciliation of these amounts is included in the “Reconciliation of Non-GAAP Free Cash Flows to Net Cash Provided by Operating Activities (GAAP) and Other Supplemental Disclosures” for the twelve months ended September 30, 2012, included herein.

N/A – Not Applicable

Sums may not equal totals due to rounding.

Qualcomm Incorporated
Reconciliation of Non-GAAP Free Cash Flows to
Net Cash Provided by Operating Activities (GAAP)
and Other Supplemental Disclosures
(In millions)
(Unaudited)

Three Months Ended September 30, 2012

Non-GAAP
QSI Share-Based
Compensation
GAAP
Net cash provided (used) by operating activities $ 1,476 $ (26) $ (41) (a) $1,409
Less: capital expenditures (234) (16) – (250)
Free cash flow $ 1,242 $ (42) $ (41) $1,159

Revenues $ 4,871 $ – $ – $4,871
Free cash flow as % of revenues 25% N/A N/A 24%

Other supplemental cash disclosures:
Cash transfers from QSI (b) $ 183 $ (183) $ – $ –
Cash transfers to QSI (c) (123) 123 – –
Net cash transfers $ 60 $ (60) $ – $ –

Twelve Months Ended September 30, 2012

Non-GAAP QSI Share-Based
Compensation GAAP
Net cash provided (used) by operating activities $ 6,382 $ (216) $ (168) (a) $5,998
Less: capital expenditures (1,183) (101) – (1,284)
Free cash flow $ 5,199 $ (317) $ (168) $4,714

Revenues $ 19,121 $ – $ – $19,121
Free cash flow as % of revenues 27% N/A N/A 25%

Other supplemental cash disclosures:
Cash transfers from QSI (d) $ 2,281 $(2,281) $ – $ –
Cash transfers to QSI (c) (478) 478 – –
Net cash transfers $ 1,803 $(1,803) $ – $ –

Three Months Ended September 25, 2011

Non-GAAP QSI Share-Based
Compensation GAAP
Net cash provided (used) by operating activities $ 1,886 $ (50) $ (16) (a) $ 1,820
Less: capital expenditures (194) – – (194)
Free cash flow $ 1,692 $ (50) $ (16) $ 1,626

Twelve Months Ended September 25, 2011

Non-GAAP QSI Share-Based
Compensation GAAP
Net cash provided (used) by operating activities $ 5,418 $ (335) $ (183) (a) $ 4,900
Less: capital expenditures (588) (5) – (593)
Free cash flow $ 4,830 $ (340) $ (183) $ 4,307

(a) Incremental tax benefits from stock options exercised during the period.
(b) Primarily due to release of restricted cash and cash from sale of equity securities and other investments.
(c) Primarily funding for strategic debt and equity investments, other investing activities and QSI operating and capital expenditures.
(d) Primarily cash from sale of wireless spectrum, issuance of subsidiary shares to noncontrolling interest, borrowings under loans and debentures and sale of equity securities and other investments.

N/A – Not Applicable

Qualcomm Incorporated
Reconciliation of Non-GAAP Tax Rates to GAAP Tax Rates (a)
(in millions)
(Unaudited)

Three Months Ended September 30, 2012
Non-GAAP
Results QSI
Share-Based
Compensation Acquisition-
Related
Items Tax-
Related
Items GAAP
Results

Income (loss) from continuing operations before income taxes $ 1,920 $(21) $ (284) $ (89) $ – $ 1,526
Income tax (expense) benefit (373) 4 62 11 10 (286)
Income (loss) from continuing operations $ 1,547 $(17) $ (222) $ (78) $ 10 $ 1,240

Tax rate 19% 19% 22% 12% N/M 19%

Twelve Months Ended September 30, 2012
Non-GAAP
Results QSI Share-Based
Compensation Acquisition-
Related
Items Tax-
Related
Items GAAP
Results

Income (loss) from continuing operations before income taxes $ 8,034 $(170) $ (1,035) $ (267) $ – $ 6,562
Income tax (expense) benefit (1,571) 33 225 24 10 (1,279)
Income (loss) from continuing operations $ 6,463 $(137) $ (810) $ (243) $ 10 $ 5,283

Tax rate 20% 19% 22% 9% N/M 19%

(a) At fiscal year end, the sum of the quarterly tax provision (benefit) for each column equals the annual tax provision (benefit) for each column computed in accordance with GAAP. In interim quarters, the sum of these provisions (benefits) may not equal the total GAAP tax provision, and this difference is allocated to tax provisions (benefits) among the columns.

Sums may not equal totals due to rounding.

Qualcomm Incorporated
CONSOLIDATED BALANCE SHEETS
(In millions, except per share data)
(Unaudited)

ASSETS
September 30, September 25,
2012 2011
Current assets:
Cash and cash equivalents $ 3,807 $ 5,462
Marketable securities 8,567 6,190
Accounts receivable, net 1,459 993
Inventories 1,030 765
Deferred tax assets 309 537
Other current assets 473 346
Total current assets 15,645 14,293
Marketable securities 14,463 9,261
Deferred tax assets 1,412 1,703
Assets held for sale 1,109 746
Property, plant and equipment, net 2,851 2,414
Goodwill 3,917 3,432
Other intangible assets, net 2,938 3,099
Other assets 677 1,474
Total assets $ 43,012 $ 36,422

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable $ 1,298 $ 969
Payroll and other benefits related liabilities 664 644
Unearned revenues 545 610
Loans and debentures – 994
Liabilities held for sale 1,072 –
Other current liabilities 1,723 2,072
Total current liabilities 5,302 5,289
Unearned revenues 3,739 3,541
Other liabilities 426 620
Total liabilities 9,467 9,450

Stockholders’ equity:
Qualcomm stockholders’ equity:
Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding – –
Common stock, $0.0001 par value; 6,000 shares authorized; 1,706
and 1,681 shares issued and outstanding, respectively – –
Paid-in capital 11,956 10,394
Retained earnings 20,701 16,204
Accumulated other comprehensive income 866 353
Total Qualcomm stockholders’ equity 33,523 26,951
Noncontrolling interests 22 21
Total stockholders’ equity 33,545 26,972
Total liabilities and stockholders’ equity $ 43,012 $ 36,422

Qualcomm Incorporated
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)

Three Months Ended Twelve Months Ended
September 30, September 25, September 30, September 25,
2012 2011 2012 2011

Revenues:
Equipment and services $ 3,213 $ 2,673 $ 12,465 $ 9,223
Licensing 1,658 1,444 6,656 5,734
Total revenues 4,871 4,117 19,121 14,957

Operating expenses:
Cost of equipment and services revenues 1,841 1,497 7,096 4,877
Research and development 1,114 851 3,915 2,995
Selling, general and administrative 681 531 2,324 1,945
Other – – 104 114
Total operating expenses 3,636 2,879 13,439 9,931

Operating income 1,235 1,238 5,682 5,026

Investment income, net 291 88 880 661
Income from continuing operations before income taxes 1,526 1,326 6,562 5,687
Income tax expense (286) (271) (1,279) (1,132)
Income from continuing operations 1,240 1,055 5,283 4,555
Discontinued operations, net of income taxes 23 (6) 776 (313)
Net income 1,263 1,049 6,059 4,242
Net loss attributable to noncontrolling interests 8 7 50 18
Net income attributable to Qualcomm $ 1,271 $ 1,056 $ 6,109 $ 4,260

Basic earnings (loss) per share attributable to Qualcomm:
Continuing operations $ 0.73 $ 0.63 $ 3.14 $ 2.76
Discontinued operations 0.02 – 0.45 (0.19)
Net income $ 0.75 $ 0.63 $ 3.59 $ 2.57
Diluted earnings (loss) per share attributable to Qualcomm:
Continuing operations $ 0.72 $ 0.62 $ 3.06 $ 2.70
Discontinued operations 0.01 – 0.45 (0.18)
Net income $ 0.73 $ 0.62 $ 3.51 $ 2.52
Shares used in per share calculations:
Basic 1,704 1,681 1,700 1,658
Diluted 1,745 1,716 1,741 1,691

Dividends per share announced $ 0.250 $ 0.215 $ 0.930 $ 0.810

Qualcomm Incorporated
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

Three Months Ended Twelve Months Ended
September 30, 2012 September 25, 2011 September 30, 2012 September 25, 2011
Operating Activities:
Net income $ 1,263 $ 1,049 $ 6,059 $ 4,242
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 257 241 897 1,061
Gain on sale of wireless spectrum – – (1,179) –
Goodwill impairment – – 23 114
Revenues related to non-monetary exchanges (30) (30) (122) (123)
Income tax provision in excess of (less than) income tax payments 156 14 395 (1,204)
Non-cash portion of share-based compensation expense 283 256 1,035 824
Incremental tax benefit from stock options exercised (41) (16) (168) (183)
Net realized gains on marketable securities and other investments (155) (33) (369) (337)
Net impairment losses on marketable securities and other investments 19 26 83 52
Losses (gains) on derivative instruments 4 4 (84) 3
Other items, net 65 (16) 93 9
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable, net (207) (161) (456) (140)
Inventories (199) (19) (252) (62)
Other assets (209) (34) (240) (70)
Trade accounts payable 174 165 371 (26)
Payroll, benefits and other liabilities 71 362 (341) 572
Unearned revenues (42) 12 253 168
Net cash provided by operating activities 1,409 1,820 5,998 4,900
Investing Activities:
Capital expenditures (250) (194) (1,284) (593)
Purchases of available-for-sale securities (3,707) (2,677) (15,511) (10,948)
Proceeds from sale of available-for-sale securities 4,084 1,306 9,858 10,661
Purchase of trading securities (1,729) – (4,009) –
Proceeds from sale of trading securities 1,763 – 3,060 –
Proceeds from sale of wireless spectrum – – 1,925 –
Acquisitions and other investments, net of cash acquired (156) (362) (833) (3,624)
Other items, net (7) 1 (83) 15
Net cash used by investing activities (2) (1,926) (6,877) (4,489)
Financing Activities:
Borrowing under loans and debentures – 295 710 1,555
Repayment of loans payable – (295) (591) (1,555)
Proceeds from issuance of common stock 355 255 1,714 2,647
Incremental tax benefit from stock options exercised 41 16 168 183
Proceeds from issuance of subsidiary shares to noncontrolling interests 1 – 86 62
Repurchase and retirement of common stock (841) (142) (1,313) (142)
Dividends paid (426) (361) (1,583) (1,346)
Other items, net (147) 78 52 114
Net cash (used) provided by financing activities (1,017) (154) (757) 1,518
Effect of exchange rate changes on cash 5 (24) (19) (14)
Net increase (decrease) in cash and cash equivalents 395 (284) (1,655) 1,915
Cash and cash equivalents at beginning of period 3,412 5,746 5,462 3,547
Cash and cash equivalents at end of period $ 3,807 $ 5,462 $ 3,807 $ 5,462

SOURCE　Qualcomm Incorporated

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UMS Advisory Announces 1st Annual Strategic Real Estate (RE) & Facilities Management (FM) Asia Conference – at Merck’s Learning Center in Singapore

UMS Advisory unveils 1st Annual 2012 UMS RE/FM Asia Conference to bring together powerful network of Fortune 500 global executives in Asia
ARLINGTON, Va./PRNewswire/ — UMS Advisory, Inc. today announced further global expansion with the official launch of its 1st Annual Strategic Real Estate (RE) and Facilities Management (FM) Asia Conference – to be held at Merck’s Learning Center in Singapore, December 4th, 2012. The exclusive, invite-only event will commence with a pre-conference welcome cocktail reception on Monday, December 3rd from 6:00PM-10:00PM.
“The Asia RE/FM market is dynamic, fast-changing and comes with a unique set of challenges when compared to US, European and Latin American markets. We are very excited to introduce our 1st Annual Strategic RE/FM Asia conference and looking forward to exploring a broad range of topics focused specifically on Asia,” said Rakesh Kishan, UMS Advisory, executive managing director.
Functional areas covered will focus on market maturity and growth, trends in RE & FM in sub-regions of Asia, supplier capabilities, optimal contracting, pricing strategies and RE & FM operating models.
Topic sessions will be explored via presentations, case studies and rich panel sessions. Topics will include:
APAC RE/FM Market Trends: New Opportunities & Challenges
Optimal Contract Structures: What Every Executive Must Know about Complex Outsourcing Transactions
Evolving Pricing Strategies: How to Advance New Models & Shape the Market
APAC Outsourcing Strategies: Success Stories & Lessons Learned
Supplier Capabilities & Service Delivery Models
UMS RE & FM Conference is an industry leading event that brings together corporate heads of RE & FM in a best practices and market intelligence forum. The conference is candid, thought-leadership focused and discussion driven to provide RE & FM and Procurement executives with the opportunity to exchange ideas, learn new models, and sharpen their focus on key trends and best practices.
Attendees for UMS Conferences for current and previous years include corporate real estate, facilities management, procurement, and operations senior executives from companies such as Agilent, AstraZeneca, Capital One, DuPont, Fifth Third Bank, Intel, Procter & Gamble, Merck, Whirlpool, Intel, Johnson & Johnson, Lockheed Martin, Genentech, Toyota, Cisco, BMW, Pfizer, Citibank, ExxonMobil, Kraft Foods, Kimberly Clark, Morgan Stanley, Motorola, Novartis, Sprint, Sanofi, United Health, Warner Bros, and State Farm Insurance.
About UMS Advisory, Inc.
UMS Advisory, a leading global management consulting firm, focuses on driving measurable performance improvements in Real Estate and Facilities Management (RE & FM) for Fortune Global 500 companies. The firm partners with clients in various industries, such as bio-pharmaceuticals, consumer packaged goods, manufacturing, financial services and high-technology, to develop transformational solutions and quantifiable results in RE & FM. Main areas of focus include, strategy, outsourcing approach and implementation, contract assessment, supplier governance, performance benchmarking, operations excellence and market intelligence. For more information, visit http://www.umsadvisory.com.

Source: UMS Advisory, Inc.

IFC, Malaysian Central Bank Help Strengthen Credit-Risk Management to Boost Access to Finance

KUALA LUMPUR, Malaysia, Nov. 8, 2012 /PRNewswire/ — IFC, a member of the World Bank Group, and Malaysia’s central bank are working together to help strengthen credit-reporting techniques and risk management in ways that are expected to expand access to finance for small entrepreneurs in emerging markets.

IFC and Bank Negara Malaysia this week began a five-day training program that brings together more than 100 regulators, credit-reporting professionals, and microfinance practitioners from 43 countries of the world. The Fourth Credit Reporting and Risk Management Training in Kuala Lumpur is designed to help attendees improve their skills in assessing and managing credit risks.

Sound credit-reporting systems offer the potential for enormous development benefits. Theycan radically transform credit markets, reducing loan-processing times and allowing lenders to increase the range of financial products and services they offer to borrowers. These savings also translate into lower interest rates, thus improving access to finance for individuals and for micro, small, and medium enterprises, including broader economic gains, such as employment generation.

“The benefits of a specialized credit reporting and risk management training can be far-reaching in helping fill the financing gap across emerging markets,” said Oscar Madeddu, Principal Specialist with IFC’s Global Credit Reporting Program. “This is the fourth consecutive year that we are partnering with Bank Negara Malaysia on this unique training and intend to continue this collaboration in future.”

Recognizing the gap in information-sharing, IFC established the Global Credit Reporting Program in 2001 to enable sharing of best practices around the world and to foster the development of credit-reporting systems in emerging markets.

An international leader in strengthening credit reporting, the program has supported the set-up or significant improvement of credit-reporting systems in more than 20 countries. It has also facilitated the drafting of new enabling regulations in 32 countries. Thirty-one million credit inquiries have been generated through the program—worth an estimated $6.2 billion in new financing for about 6 million retail and small-business clients worldwide.

Multiple donors fund the program, including Austria, Australia, Canada, Italy, Japan, Luxembourg, the Netherlands, Norway, New Zealand, Switzerland, United Kingdom, the Omidyar Network Fund Inc., and Visa International.

Pay TV Operators Aim to Increase Penetration in the Low-income User Group, Finds Frost & Sullivan

Service bundles to further increase adoption of pay TV services
SAO PAULO /PRNewswire/ — Cable TV and direct to home (DTH) operators’ increased geographic coverage of Pay TV services will take the Latin American Pay TV services market to the next level of competitiveness. The rising competition among cable TV and DTH operators, and Internet protocol TV (IPTV) operators in Brazil, Chile, Colombia, and Mexico will improve the availability and quality of services, add value to service offerings, and enhance price points.
New analysis from Frost & Sullivan (http://www.ipcommunications.frost.com), Latin American Pay TV Services Markets, 2011, finds that the market earned $15.23 billion in 2011 and estimates this to reach $28.75 billion in 2017.
Higher investments by Cable TV and IPTV operators will encourage market participants to stretch their services beyond urban areas and cover the underserved small and medium cities as well. This is expected to be a potentially lucrative segment, as the low-income group is increasingly subscribing to Pay TV services on the back of the region’s higher economic growth.
Subscribers are also adopting Pay TV services due to the availability of bundles combining TV, fixed, mobile telephony, and broadband. This trend has gained momentum with the merger of the fixed and mobile operations of America Movil and Telefonica S.A. in several countries in Latin America.
“The entrance of telecommunications companies will intensify competition in the market,” said Frost & Sullivan Research Analyst Guilherme Faggion. “The emergence of IPTV services in all the countries in Latin America; the launch of hybrid DTH, IPTV, and digital terrestrial television set-top-boxes; as well as the deregulation of cable TV in Brazil are likely to solidify this trend.”
However, the heavy tax burden on Pay TV services, especially in Brazil, and the difficulty of obtaining return on investment (ROI) from the implementation of networks in distant geographic areas and small cities challenges operators’ ability to gain scale and offer convergent services over networks.
Currently, the over the top (OTT) market is not a threat to the market, but that may change, depending on the quality of broadband offerings, applications with attractive content for the Latin American market, and installed base of video games and SmaTVs boxes such as Apple TV.
In the current scenario, Latin America Pay TV operators have to negotiate with content providers and suppliers to launch novel, lower-priced plans, and even prepaid plans, which can buffer the lack of government incentives and the high taxes.
“Investments in wireless technologies and hybrid set-top-boxes will aid the offer of lower-priced services aimed at low-income users,” noted Faggion. “This will considerably enlarge the subscriber base and open up additional revenue streams.”
If you are interested in more information on this research, please send an email to Francesca Valente, Corporate Communications, at francesca.valente@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state, and country.
Latin American Pay TV Services Markets, 2011 is part of the Telecom Services Growth Partnership Services program, which also includes research in the following markets: Latin American Data Communications Services Markets, Latin American Broadband Services Markets, Brazilian Total Telecommunications Services Market, and Colombian Total Telecommunications Services Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.
Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
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Latin American Pay TV Services Markets, 2011
NB10-63
Contact:
Francesca Valente
Corporate Communications – Latin America
P: +54 11 4777 5300
F: +54 11 4777 5300
E: francesca.valente@frost.com
http://www.frost.com
Source: Frost & Sullivan

General Managers’ Appointments at The Hongkong and Shanghai Hotels, Limited

HONG KONG/PRNewswire/ — The Hongkong and Shanghai Hotels, Limited (HSH), a Hong Kong-listed company and owner and operator of the Peninsula Hotels, announced the transfer of Mr. Nicolas Beliard to be General Manager of The Peninsula Paris (effective 1 January 2013) and the promotion of Ms. Katja Henke to be General Manager of The Peninsula Bangkok (effective 27 December 2012).

Mr. Nicolas Beliard

Ms. Katja Henke
Commenting on these senior executive appointments, Mr. Clement K.M. Kwok, Chief Executive Officer of HSH, said, “Mr. Beliard brings with him a wealth of experience in managing luxury hotels. He will lead The Peninsula Paris in its opening and will drive a number of exciting initiatives that we will put in place ahead of the hotel’s launch in 2013. Ms. Henke has a proven track record in luxury hotels, which will be crucial to ensuring the continued success of The Peninsula Bangkok. I wish to congratulate both of them on their promotions.”
Mr. Nicolas Beliard
Aged 46, Mr. Nicolas Beliard is a French national and is currently General Manager of The Peninsula Bangkok. He will be transferred to The Peninsula Paris as General Manager on 1 January 2013.
Mr. Beliard joined HSH in 2009 as Resident Manager of The Peninsula Hong Kong. In May 2010, he was promoted to be General Manager of The Peninsula Bangkok.
Born in France and educated in the USA, Mr. Beliard possesses a Bachelor of Arts degree from Princeton University, a Master of Business Administration degree from Crummer Graduate School of Management and a Master of Management in Hospitality degree from the Cornell School of Management. He began his career in St. Tropez, France and progressively took on senior positions with international luxury hotels, including the Four Seasons hotels in New York, Paris, the West Indies and Geneva, The Waldorf Astoria and The Pierre hotels in New York, as well as Mandarin Oriental hotel in Miami.
In his new capacity, Mr. Beliard will be overseeing the launch of the 200-key Peninsula Paris, HSH’s tenth Peninsula hotel and the first Peninsula hotel in Europe, which is due to open in late 2013.
Ms. Katja Henke
Aged 42, Ms. Katja Henke is a German/Swiss national and is currently Hotel Manager of The Peninsula Shanghai. She is promoted to be General Manager of The Peninsula Bangkok, effective 27 December 2012.
Ms. Henke joined HSH in May 2011. She received her education in Germany and attended a hospitality school, the Schweizerische Hotelfachschule Luzern in Switzerand. Her international career has taken her to Switzerland, France and England, before moving to the USA to work for Relais & Chateau where she held the position of General Manager at their Lenox, Massachusetts property. Before joining HSH, Ms. Henke was Hotel Manager at the Four Seasons Hotel in Washington DC and subsequently, the Beverly Wiltshire hotel in California.
Ms. Henke will be taking over from Mr. Nicolas Beliard to manage the 370-key Peninsula Bangkok.
About The Hongkong and Shanghai Hotels, Limited (HSH)
Incorporated in 1866 and listed on The Stock Exchange of Hong Kong (00045), HSH is the holding company of a Group which is engaged in the ownership, development and management of prestigious hotel, commercial and residential properties in key locations in Asia, the United States and Europe, as well as the provision of transport, club management and other services. The hotel portfolio of the Group comprises The Peninsula Hotels in Hong Kong, Shanghai, Beijing, New York, Chicago, Beverly Hills, Tokyo, Bangkok, Manila and Paris (opening in late 2013). The property portfolio of the Group includes The Repulse Bay Complex, The Peak Tower and The Peak Tramways, St. John’s Building, The Landmark in Ho Chi Minh City, Vietnam and the Thai Country Club in Bangkok, Thailand.
For further information on this release, please contact:
Irene Lau
Senior Manager, Corporate Affairs
The Hongkong and Shanghai Hotels, Limited
Tel: +852-2840-7788
Fax: +852-2840-7567
Email: irenelau@peninsula.com
Websites: http://www.hshgroup.com, http://www.peninsula.com
Source: The Hongkong and Shanghai Hotels, Limited