Broadcom Posts $166M Q1 Loss
Online staff -- Electronic News, 4/17/2002
e-insite.net
Broadcom Corp. today posted small sequential gains in revenue and greatly improved income for the first quarter of 2002, ended March 31.
The company posted net revenues of $238.8 million, a 5 percent increase from the previous quarter’s $226.8 million, but 23 percent below the $310.5 million reported in the first quarter of 2001.
Net losses decreased to $166.1 million, or 63 cents per share. This compares to a net loss of $329.6 million, or $1.27 per share, in the previous quarter, and a net loss of $356.9 million, or $1.43 per share, in the year-ago quarter.
"Broadcom has continued to deliver strong quarterly results, with revenue, gross margin and operating margin all improving for the third straight quarter," said Henry T. Nicholas III, Broadcom’s president and CEO, in a statement. "We experienced particularly strong performance from our networking and ServerWorks business units." |
