Monday, August 22, 2011

Avago Sees Continued Revenue Gains

Avago Technologies reported net quarterly revenue of $603 million, an increase of 8 percent compared with the previous quarter, and up 10 percent from the same quarter last year. Gross margin was $297 million, or 49.3 percent of net revenue. This compares with gross margin of $275 million, or 49.1 percent of net revenue last quarter, and gross margin of $263 million, or 47.8 percent of net revenue in the same quarter last year.

"During the third quarter of fiscal 2011, our four target markets performed as we expected and we outperformed these markets as our revenue growth for the quarter came in at the high end of guidance," said Hock Tan, President and CEO of Avago Technologies Limited. "While uncertainties prevail in the global economy today, we continue to believe revenue will grow for the balance of the fiscal year due to share gains with certain wireless and wired OEMs."

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