Broadcom (BRCM) Message Board

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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

0.0%

Feb 9 4:00 PM EST

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To: Brian Malloy who wrote (3659)	3/12/2000
From: SJS	Read Replies (1) of 6531

CSFB on BRCM ---------------- Broadcom (BRCM-$239-Cap $57.3B-Buy) Revising our Estimates to Account for Recent Acquisitions CY00/01: $0.64/$0.97 ú In connection with its recent acquisition of BlueSteel Networks, Stellar Semiconductor and Digital Furnace, we are revising our financial projections for 2000 to take into consideration the near term dilutive effects of these acquisitions. ú Broadcom will issue a total of 2.3 mm shares, and incur incremental quarterly expenses for 2000, mainly in R&D and Sales & Marketing. The acquisitions will be dilutive by 2 cents for the first three quarters of 2000, and one cent for Q4 and accreative thereafter. There are no revenue adjustments being made at this time as the companies acquired were both pre-revenue. ú Our revised estimates are now $0.64/$0.97 for 2000/2001 from $0.72/$0.97. We reiterate our Buy rating for Broadcom and continue to believe this stock represents a core holding as its highly leveraged to major broadband market opportunities and has a history of flawless execution. ú We re-iterate our Buy rating.

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