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Technology Stocks : COM21 (CMTO) -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (272)	4/16/1999 3:00:00 PM
From: pat mudge	Respond to of 2347

CMTO mention: fnews.yahoo.com

To: j g cordes who wrote (272)	4/20/1999 4:51:00 PM
From: pat mudge	Read Replies (1) \| Respond to of 2347

Taking a pulse on the industry: <<< April 20, 1999 16:37 Broadcom Corporation Reports Record First Quarter Revenue and Profit IRVINE, Calif.--(BUSINESS WIRE)--April 20, 1999--Broadcom Corporation (Nasdaq: BRCM) today reported record financial results for the quarter ended March 31, 1999. Revenue for the first quarter of 1999 was a record $96.3 million, an increase of 172.5% over the $35.3 million reported in the first quarter of 1998 and an increase of 37.4% over the $70.1 million reported in the fourth quarter of 1998. Net income was a record $19.3 million, compared with net income of $7.7 million in the first quarter of 1998. Diluted earnings per share for the first quarter of 1999 were $.19, based on weighted average shares outstanding of 101.6 million. This compares with diluted earnings of $.09 per share on 82.6 million weighted average shares for the same period in 1998. Weighted average shares and per share amounts have been adjusted to reflect a 2-for-1 stock split, in the form of a 100% stock dividend, effective February 17, 1999. "During the quarter, we saw strong growth in sales of our networking products, as well as steady and continuing growth in our set-top box and cable modem products," said Dr. Henry T. Nicholas III, Broadcom's President and CEO. "Additionally, we continued to see a broadening of our customer base, particularly in our networking business unit." "In this quarter, we continued progress toward our goal of providing enabling silicon solutions for the convergence of voice, video and data across local and wide area networks. In January, we announced the acquisition of Maverick Networks, which we expect to provide the technology necessary for the integration of voice, video and other delay-sensitive traffic into existing data networks. The pending Maverick acquisition should enable Broadcom to deliver silicon solutions that will drive down the cost of advanced Layer 3 switching products. The lower cost and higher level of integration will make it economical to deploy advanced Layer 3 features throughout the mainstream switching market." "During the quarter, we entered new markets in high speed networking by ramping to volume production our transceivers for use in Network Interface Cards (NICs) in personal computers and other networking devices," Nicholas said. "In March, the cable modem industry reached a significant milestone with the first DOCSIS (Data Over Cable Service Interface Specification) certification of retail cable modems and DOCSIS qualification of cable modem termination systems (head-ends) by CableLabs(R)," Nicholas said. "It was an important milestone for Broadcom as well, since our chipsets were instrumental in the certification. CableLabs' actions pave the way for the mass rollout of DOCSIS systems and the deployment of new DOCSIS-based broadband multi-service solutions delivering data, voice and video services." About Broadcom Broadcom Corporation is a leading developer of highly integrated silicon solutions that enable broadband digital data transmission to the home and within the business enterprise. Using proprietary technologies and advanced design methodologies, the Company has designed and developed integrated circuits for some of the most significant broadband communications markets, including the markets for cable set-top boxes, cable modems, high-speed networking products, direct broadcast satellite and terrestrial digital broadcast, and digital subscriber line (xDSL). Broadcom is headquartered in Irvine, Calif., and may be contacted at 949/450-8700 or at www.broadcom.com. >>>>>