Ad
Ad
Ad
Ad
Ad
Ad
Ad
Components | October 26, 2011

Broadcom reports 3Q net revenue of USD 1.96<em>bn</em>

Broadcom reported unaudited financial results for its third quarter ended September 30, 2011. Net revenue increased 8.4% YoY to USD 1.96 billion.
Q3 GAAP Results

- Total Revenue: $1.96 billion (up 8.4% year over year)
- Product Gross Margin: 49.5%
- Diluted EPS: $0.48 (includes $0.10 of net non-recurring charges)
- Cash Flow from Operations: $534 million

Q3 Non-GAAP Results

- Product Gross Margin: 50.9%
- Diluted EPS: $0.82

Net revenue for the third quarter of 2011 was $1.96 billion. This represents an increase of 8.4% compared with the $1.81 billion reported for the third quarter of 2010. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the third quarter of 2011 was $270 million, or $.48 per share (diluted), compared with GAAP net income of $328 million, or $.60 per share (diluted), for the third quarter of 2010.

"Broadcom delivered record revenue and cash flow in Q3 with strength across all of our end markets - Home, Hand and Infrastructure," said Scott McGregor, Broadcom's President and CEO. "While our outlook reflects potential industry softness, our long-term strategy is to continue to outgrow the overall semiconductor market with product innovations that drive new market growth and value."
In addition to GAAP results, Broadcom reports adjusted net income and adjusted net income per share, referred to respectively as "non-GAAP net income" and "non-GAAP diluted net income per share." A discussion of Broadcom's use of these and other non-GAAP financial measures is set forth below. Reconciliations of GAAP to non-GAAP financial measures for the three and nine months ended September 30, 2011 and 2010, respectively, appear in the financial statements portion of this release under the heading "Unaudited Schedule of Selected GAAP to Non-GAAP Adjustments."

Non-GAAP net income for the third quarter of 2011 was $476 million, or $.82 per share (diluted), compared with non-GAAP net income of $456 million, or $.80 per share (diluted), for the third quarter of 2010.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
June 15 2018 12:12 am V9.6.1-1