Tuesday, February 2, 2010

Broadcom Reports Record Quarterly Revenue of $1.343 billion

Broadcom reported net revenue for Q4 2009 was a record $1.343 billion, up 7.1% compared with the $1.254 billion for the Q3 2009 and an increase of 19.2% compared with the $1.127 billion for Q4 2008. Net income (GAAP) for Q4 2009 was $59.2 million, or $.11 per share (diluted), compared with GAAP net income of $84.6 million, or $.16 per share (diluted), for Q3 2009, and GAAP net loss of $159.2 million, or $.32 net loss per share (basic and diluted), for Q4 2008.

"Broadcom's performance in 2009 highlights the incredible opportunities within the wired and wireless communications markets and the excellent work of our employees in creating compelling products," said Scott A. McGregor, Broadcom's President and Chief Executive Officer. "In the midst of one of the worst economic downturns, Broadcom gained market share, achieved record quarterly revenue and delivered the strongest cash flow from operations in our history."

In addition, the company adopted a dividend policy pursuant to which it intends to pay quarterly cash dividends on its common stock. Broadcom's Board of Directors declared the first quarterly cash dividend of $0.08 per share payable to holders of the Company's common stock.

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