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Components | February 02, 2012

Net revenue decrease 7% for Broadcom

Net revenue for the fourth quarter of 2011 (ended December 31, 2011) was $1.82 billion.
This represents a decrease of 7.0% compared with the $1.96 billion reported for the third quarter of 2011 and a decrease of 6.4% compared with the $1.95 billion reported for the fourth quarter of 2010.

Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2011 was $254 million, or $.45 per share (diluted), compared with GAAP net income of $270 million, or $.48 per share (diluted), for the third quarter of 2011 and GAAP net income of $266 million, or $.47 per share (diluted), for the fourth quarter of 2010.

"Broadcom delivered solid results in 2011, as we gained significant market share, secured record design wins across our businesses, and delivered record revenue and cash flow from operations. Looking forward, we will remain focused on product innovation and engineering execution that position us to grow faster than the industry." said Scott McGregor, Broadcom's President and Chief Executive Officer.
Net revenue for the year ended December 31, 2011 was $7.39 billion. This represents an increase in net revenue of 8.4% from the $6.82 billion reported for the year ended December 31, 2010. Net income computed in accordance with GAAP for the year ended December 31, 2011 was $927 million, or $1.65 per share (diluted), compared with GAAP net income of $1.08 billion, or $1.99 per share (diluted), for the year ended December 31, 2010.

Non-GAAP net income for the fourth quarter of 2011 was $395 million, or $.68 per share (diluted), compared with non-GAAP net income of $475 million, or $.82 per share (diluted), for the third quarter of 2011 and non-GAAP net income of $488 million, or $.83 per share diluted, for the fourth quarter of 2010. Non-GAAP net income for the year ended December 31, 2011 was $1.70 billion, or $2.89 per share (diluted), compared with non-GAAP net income of $1.72 billion, or $3.02 per share (diluted), for the year ended December 31, 2010.

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