Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (26329)	6/6/2001 6:37:55 PM
From: 2MAR$	Read Replies (1) \| Respond to of 37746

Broadcom Updates Second Quarter 2001 Financial Outlook; Conference Call Scheduled Thursday, June 7, 8:45 a.m. Eastern Time Business Editors & High-Tech Writers IRVINE, Calif.--(BUSINESS WIRE)--June 6, 2001--Broadcom Corporation (Nasdaq:BRCM) today updated the outlook for its financial performance for the second quarter ending June 30, 2001. "The continued weakness in the technology sector requires that we lower expectations for second quarter revenue to a decrease of between 32% and 35% from the first quarter," said Dr. Henry T. Nicholas III, Broadcom's President and CEO. "Although current demand conditions continue to be soft, we are starting to see some signs of stabilization in the business for the second half of the year. We also continue to introduce new market-leading products and to gain important design wins with customers that position us well to compete effectively in our markets as the economy recovers." "In response to the numerous acquisitions made in the last two years and the current more challenging economic climate, we are taking steps to streamline our business," Nicholas continued. "Accordingly, in the first quarter earnings conference call on April 18, we indicated that we were conducting a thorough review of all of our business units with the intent of making reductions in some areas and increasing the level of strategic investment in others. We are beginning to implement these plans during the current quarter. This will result in business unit re-alignment, net staffing reductions, facility consolidations, and other actions that will result in an associated charge to be taken during the second quarter." Conference Call Broadcom will conduct a conference call with analysts and investors to discuss its updated second quarter outlook tomorrow (Thursday June 7) at 8:45 a.m. Eastern Time (5:45 a.m. Pacific Time). The company will broadcast the conference over the Internet. To listen to the call, please visit the Investor Information section of the Broadcom Website at www.broadcom.com/investor or go to www.streetfusion.com. The Webcast will be recorded and available for replay until 5:00 p.m. Pacific Time on June 14, 2001. About Broadcom Broadcom Corporation is the leading provider of highly integrated silicon solutions that enable broadband communications and networking of voice, video and data services. Using proprietary technologies and advanced design methodologies, Broadcom designs, develops and supplies complete system-on-a-chip solutions and related applications for digital cable set-top boxes and cable modems, high-speed local, metropolitan and wide area and optical networks, home networking, Voice over Internet Protocol (VoIP), carrier access, residential broadband gateways, direct broadcast satellite and terrestrial digital broadcast, digital subscriber lines (xDSL), wireless communications, System I/O(TM) server solutions and network processing. Broadcom is headquartered in Irvine, Calif., and may be contacted at 949-450-8700 or at www.broadcom.com. Safe Harbor Statement