No doubt....this thing has really snowballed.
I knew something was fishy with all the shares being tossed around and the "extra" shares given if goals were met, etc. ...but even I didn't think it was this bad.
I wonder what the dude is going to say in just a few minutes....I'll be all ears :-0
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BRCM
47 7/8
+3/4
delayed 20 mins - disclaimer
Tuesday March 6, 10:02 pm Eastern Time
Press Release
Broadcom Updates First Quarter 2001 Outlook
IRVINE, Calif.--(BUSINESS WIRE)--March 6, 2001--Broadcom Corporation (Nasdaq:BRCM - news) today updated the outlook for its financial performance for the first quarter of 2001 and also addressed the accounting treatment of certain performance-based warrants it assumed in connection with several acquisitions.
Update to First Quarter 2001 Outlook
``As the U.S. economy continues to slow, we, like others in our industry, are experiencing a significant slowdown in customer orders, requiring us to revise our outlook for the first quarter of 2001,'' said Dr. Henry T. Nicholas III, Broadcom's President and CEO.
``On February 7th, the company indicated that we were uncertain about meeting revenue and earnings expectations for the first quarter. Along with all of our customers and peers, we are now experiencing the effects of the sharp downturn in the U.S. economy. In February we started seeing a higher level of order delays by our customers. At the end of February, we received notice of termination of a significant contract from one of our largest customers. Upon completion of our most recent demand review, we concluded that the isolated signs of softness we had seen earlier have now become widespread, and we do not currently have the visibility to be able to predict when this softness will abate,'' Nicholas said.
``Today we are announcing that we expect our first quarter revenue to be between $315 million and $325 million, which we expect would result in pro forma diluted earnings per share in the range of $.08 to $.09 for the quarter,'' said Nicholas. |
