Product category:
Communications ICs (Wireless)
News Release from: Broadcom Corp
Edited by the Electronicstalk Editorial
Team on 30 April 2007
Broadcom revenue dips in the fourth
quarter
Broadcom's net revenue for the first quarter of 2007 was US $901.5 million, a decrease of 2.4% from the US $923.5 million reported for the fourth quarter of 2006.
Broadcom has reported unaudited financial results for its first quarter ended 31st March, 2007 Net revenue for the first quarter of 2007 was US $901.5 million, a decrease of 2.4% from the US $923.5 million reported for the fourth quarter of 2006 and an increase of 0.1% from the US $900.6 million reported for the first quarter of 2006
This article was originally published on Electronicstalk on 19 Oct 2005 at 8.00am (UK)
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Net income computed in accordance with US generally accepted accounting principles (GAAP) for the first quarter of 2007 was US $61.0 million, or US $0.10 per share (diluted), compared with GAAP net income of US $45.1 million, or US $0.08 per share (diluted), for the fourth quarter of 2006, and GAAP net income of US $117.7 million, or US $0.20 per share (diluted), for the first quarter of 2006.
In addition to GAAP results, Broadcom reports adjusted net income and net income per share, referred to respectively as "non-GAAP net income" and "non-GAAP net income per share".
Non-GAAP net income for the first quarter of 2007 was US $175.1 million, or US $0.29 per share (diluted), compared with nonGAAP net income of US $184.9 million, or US $0.31 per share (diluted), for the fourth quarter of 2006, and US $221.9 million, or US $0.36 per share (diluted), for the first quarter of 2006.
"Broadcom's first quarter results came in better than we anticipated due to slightly higher than expected revenue combined with increased operating expense efficiencies", said Scott McGregor, Broadcom's President and Chief Executive Officer.
"Mixed outlooks from a few of our larger customers are causing a lower than normal level of visibility into our near-term results".
"We believe that these issues are near-term in nature and we remain optimistic regarding our prospects for the second half of the year".
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