Broadcom Corporation Reports Record Second Quarter Revenue and
Profit
IRVINE, Calif., Jul 18, 2000 (BUSINESS WIRE) -- Broadcom Corporation (Nasdaq: BRCM chart, msgs) today reported
record financial results for the quarter ended June 30, 2000.
Revenue for the second quarter of 2000 was a record $245.2 million, an increase of 105% over the $119.5 million reported in
the second quarter of 1999. Net income, before one-time charges for acquisition-related expenses of $1.8 million pre-tax, was
a record $57.4 million, or $.23 per share (diluted). This compares with net income, before one-time charges for
acquisition-related expenses and settlement costs, of $20.1 million, or $.09 per share (diluted), for the same quarter in 1999.
Diluted earnings per share for the quarter were based on 253.9 million weighted average shares outstanding, compared to
233.4 million weighted average shares outstanding in the second quarter of 1999.
Including the one-time charges, net income was a record $55.9 million, or $.22 per share (diluted), in the second quarter of
2000. This compares with net income after one-time charges of $0.2 million, or less than $.01 per share (diluted), in the same
quarter in 1999.
All numbers shown reflect Broadcom's 2-for-1 stock split effective February 11, 2000. |
