Qualcomm Unit That Contains Trucking Business Breaks Even

Qualcomm Inc. said the division that includes its truck technology business broke even in the company’s fiscal second quarter.

Results for the company’s Omnitracs subsidiary were included with the Qualcomm Wireless & Internet, or QWI, division, which improved from a loss of $10 million before taxes in the same period last year.

Omnitracs, formerly known as Qualcomm Enterprise Services, provides in-cab wireless communications systems and other technologies for the trucking industry.

Qualcomm renamed the business on April 1 at the same time that it transferred the segment into a wholly owned subsidiary.



Despite the corporate reorganization, Qualcomm said it has not announced plans to change how it reports results for Omnitracs in future financial reports.

The QWI division’s revenue for the quarter ended March 31 declined to $155 million, from $159 million a year earlier.

Through the first six months of the fiscal year, QWI posted a loss of $4 million before taxes on $301 million in revenue, compared with a loss of $9 million on revenue of $311 million for the corresponding period in the previous year.

Omnitracs’ quarterly revenue increased by $8 million year-over-year, while its six-month revenue grew by $3 million over the previous year, Qualcomm said in a regulatory filing.

As a whole, Qualcomm Inc.’s second-quarter net income declined to $1.86 billion, or $1.06 per share, from $2.2 billion, or $1.28 a year earlier. The wireless technology provider’s quarterly revenue climbed to $6.12 billion, from $4.94 billion.

 

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