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EXHIBIT 11.1
QUALCOMM INCORPORATED
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
FOR THE YEAR ENDED
SEPTEMBER(1)
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1996 1995 1994
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Net income........................................................ $21,027 $30,180 $15,193
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Weighted average number of common shares outstanding.............. 65,557 53,416 51,009
Common stock equivalent shares(2)................................. 4,657 4,004 2,505
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Total number of shares for computing primary earnings per share... 70,214 57,420 53,514
Incremental shares for computing fully diluted earnings per
share(3)........................................................ 254 774 48
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Total number of shares for computing fully diluted earnings per
share........................................................... 70,468 58,194 53,562
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Primary earnings per share........................................ $ 0.30 $ 0.53 $ 0.28
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Fully diluted earnings per share(4)............................... $ 0.30 $ 0.52 $ 0.28
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(1) The Company's fiscal year ended on the last Sunday of September.
(2) Includes outstanding options and warrants for common stock.
(3) The incremental shares for fully diluted earnings per share reflects the
dilutive effect of stock options and warrants at the higher of the average
or ending market price during the recording period.
(4) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although not required by Opinion No. 15 because it results in
dilution of less than 3%.