7/18 (missed before)...BRCM Roars Past Estimates, Sees Surge in Revenue
By TSC Staff
7/18/00 5:28 PM ET
Broadcom (BRCM:Nasdaq - news), citing strong demand, said it earned 23 cents a share in the second quarter excluding charges, topping analysts' estimates.
Analysts expected Broadcom to earn 19 cents a share, according to I/B/E/S.
The communications chipmaker earned $57.4 million before acquisition-related expenses. Including the expenses, it earned $55.9 million, or 22 cents a share. In the year-earlier period, the Irvine, Calif.-based company earned $20.1 million, or 9 cents a share excluding acquisition expenses and settlement costs. Including the items, Broadcom earned $159,000, or less than a penny a share.
Revenue more than doubled to $245.2 million from $119.5 million.
Broadcom closed Tuesday at 245 3/4, down 15 11/16. In after-hours trading, it was changing hands at 244 a share on Island.
"We experienced strong demand in all of the markets we serve, with better than expected growth in the broadband-transmission markets for digital set-top boxes and cable modems," Henry Nicholas III, Broadcom's president and CEO, said in a statement. "We continued our rapid pace of new product introductions, with products being introduced during the quarter that were the result of both internal development efforts as well as the successful integration of acquired engineering development teams." |
