Product category:
Intellectual Property Cores
News Release from: LSI Europe
Edited by the Electronicstalk Editorial
Team on 26 January 2007
Storage products fuel LSI's strong
quarter
LSI Logic Corp has reported fourth quarter 2006 revenues of US $524 million, a 3% increase year-over-year compared with the $506 million reported in the fourth quarter of 2005.
LSI Logic Corp has reported fourth quarter 2006 revenues of US $524 million, a 3% increase year-over-year compared with the $506 million reported in the fourth quarter of 2005, and up 6% sequentially compared with the $493 million reported in the third quarter of 2006 Fourth quarter 2006 GAAP net income was $59 million or 14 cents per diluted share, compared with fourth quarter 2005 GAAP net income of $38 million or 9 cents per diluted share
This article was originally published on Electronicstalk on 23 May 2001 at 8.00am (UK)
Related stories
ANT Fresco browser ported to LSI set-top box SoC
Available now from LSI Logic is the company's software development platform (SDP) for the SC2000 digital set-top box (STB) chip featuring ANT's embedded Fresco browser.
SCSI technology enters the seventh generation
LSI Logic has announced commercial availability of the LSI53C1030 Ultra320 SCSI controller chip and the start of a worldwide product sampling and demo program featuring LSI Logic's Ultra320 products.
Fourth quarter 2006 GAAP results compare to third quarter 2006 GAAP net income of $44 million or 11 cents per diluted share.
Fourth quarter 2006 GAAP net income included $10.9 million of stock-based compensation expense and a net charge of $5.2 million from special items, acquisition-related amortisation, restructuring and their related tax effect.
Fourth quarter 2006 non-GAAP net income was $75 million or 18 cents per diluted share, an increase of 47% compared with fourth quarter 2005 non-GAAP net income of $51 million or 13 cents per diluted share.
Further reading
Core embeds reconfigurable logic into SoCs
LSI Logic has announced the immediate availability of the LiquidLogic core, an embedded programmable logic technology that can be used in both ASIC and ASSP SoC designs.
PCI links to Fibre Channel at 2Gbit/s
LSI Logic has added a range of single, dual and quad 2Gbit/s PCI-X Fibre Channel host adapters to its already successful line of PCI Fibre Channel products.
Third quarter 2006 non-GAAP net income was $65 million or 16 cents per diluted share.
Cash and short-term investments totalled $1.01 billion at quarter end, with $272 million in repayment of convertible notes completed during the quarter.
"Our solid fourth quarter performance was fuelled by the seasonally strong demand for storage products, with 22% sequential growth and record quarterly revenue in our Engenio systems business", said Abhi Talwalkar, LSI Logic President and Chief Executive Officer.
"For the full year, storage semiconductor and system revenues grew at healthy, double-digit rates of 14 and 12%, respectively".
"During the quarter, we also agreed to merge with Agere Systems to create a storage, networking and consumer powerhouse that we anticipate will better serve our customers, shareholders and employees".
LSI recorded full year 2006 revenues of $1.98 billion, a 3% increase compared with $1.92 billion in 2005.
The company reported 2006 GAAP net profit of $170 million or 42 cents per diluted share, which includes $47 million of stock-based compensation expense and a net charge of $19.5 million from special items, acquisition-related amortisation, restructuring and their related tax effect.
Full year 2006 GAAP results compare to full year 2005 GAAP net loss of $6 million or 1 cent per diluted share which included a $91 million noncash charge associated with the sale of the company's former Gresham, Oregon manufacturing facility.
non-GAAP net income for 2006 grew to $236 million or 58 cents per diluted share compared with 2005 non-GAAP net income of $166 million or 42 cents per diluted share.
"GAAP net income for the quarter grew 35% sequentially and 56% compared with the same quarter in 2005", said Bryon Look, LSI Logic Chief Financial Officer.
"Our balance sheet remained strong with a net cash position of $659 million".
"The company generated operating cash flows of $51 million for the quarter and $247 million for the full year".
• LSI Europe: contact details and other news
• Email this article to a colleague
• Register for the free Electronicstalk email newsletter
• Electronicstalk Home Page
Search the Pro-Talk network of sites
