Avago Technologies Limited Announces Fourth Quarter And Fiscal Year 2011 Financial Results

  • Quarterly net revenue up 3 percent sequentially; FY2011 revenue up 12 percent from the prior year
  • Quarterly GAAP gross margin of 48.8 percent; Quarterly Non-GAAP gross margin of 51.2 percent
  • Quarterly GAAP diluted EPS of $0.61; Quarterly Non-GAAP diluted EPS of $0.73

SAN JOSE, Calif. & SINGAPORE — (BUSINESS WIRE) — December 1, 2011 — Avago Technologies Limited (Nasdaq: AVGO), a leading supplier of analog interface components for communications, industrial and consumer applications, today reported financial results for its fourth quarter and fiscal year ended October 30, 2011, and provided guidance for the first quarter of fiscal year 2012.

Fourth Quarter Fiscal Year 2011 GAAP Results

Net revenue was a record $623 million, an increase of 3 percent compared with the previous quarter, and up 9 percent from the same quarter last year.

Gross margin was $304 million, or 48.8 percent of net revenue. This compares with gross margin of $297 million, or 49.3 percent of net revenue last quarter, and gross margin of $276 million, or 48.3 percent of net revenue in the same quarter last year.

Operating expenses were $145 million. This compares with $152 million in the prior quarter and $131 million in the same quarter the previous year.

Income from operations was $159 million. This compares with $145 million in the prior quarter and $145 million in the same quarter last year.

Fourth quarter net income was $154 million, or $0.61 per diluted share. This compares with net income of $144 million, or $0.57 per diluted share last quarter, and net income of $164 million, or $0.66 per diluted share in the same quarter last year.

The Company’s cash balance at the end of the fourth quarter was $829 million, compared to $704 million at the end of the prior quarter. The increase in cash over the previous quarter is primarily due to $195 million of cash generated from operations.

During the quarter the Company spent $37 million on capital expenditures and repurchased and cancelled approximately 750,000 ordinary shares for an aggregate purchase price of $25 million. In addition, on September 30, 2011 the Company paid a quarterly cash dividend of 11 cents ($0.11) per ordinary share, totaling approximately $27 million.

Fourth Quarter Fiscal Year 2011 Non-GAAP Results

Gross margin was $319 million, or 51.2 percent of net revenue. This compares with gross margin of $312 million, or 51.7 percent of net revenue last quarter, and gross margin of $291 million, or 50.9 percent of net revenue in the same quarter last year.

Income from operations was a record $191 million. This compares with $177 million in the prior quarter and $171 million in the same quarter the previous year.

Net income was $186 million, or $0.73 per diluted share. This compares with net income of $176 million, or $0.68 per diluted share last quarter, and net income of $190 million, or $0.76 per diluted share in the same quarter last year.

Fourth Quarter Fiscal Year 2011 Non-GAAP Results         Change
(Dollars in millions, except EPS)

Q4 11

Q3 11

Q4 10

Q/Q

 

Y/Y

Net Revenue $623 $603 $572 +3% +9%
Gross Margin 51.2% 51.7% 50.9% -50bps +30bps
Operating Expenses $128 $135 $120 -$7 +$8
Net Income $186 $176 $190 +$10 -$4
Earnings Per Share - Diluted $0.73 $0.68 $0.76 +$0.05 -$0.03

1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »



Review Article Be the first to review this article
CST: Webinar November 9, 2017

Synopsys: Custom Compiler

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Teklatech: Work smart, Not hard
More Editorial  
Jobs
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Upcoming Events
MIPI DevCon Bangalore 2017 at The Leela Palace Bengaluru India - Oct 27, 2017
MIPI DevCon Hsinchu City 2017 at Sheraton Hsinchu Hotel Taiwan - Oct 31, 2017
The 2017 International Test Conference at Fort Worth Convention Center Fort Worth TX - Oct 31 - 2, 2017
Embedded Systems Conference 2017 at Minneapolis Convention Center Minneapolis MN - Nov 8 - 9, 2017
CST: Webinar series



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise