Agere Systems Reports Results for the Second Quarter of Fiscal Year 2006



                               Agere Systems Inc.
            Unaudited Condensed Consolidated Statements of Operations
                 (Dollars in millions except per share amounts)

                                                       Quarter Ended

                                               Mar 31      Dec 31      Mar 31
                                                2006        2005        2005

    Revenue                                     $397        $403        $417
    Costs                                        208         210         263
    Gross profit - $                             189         193         154
    Gross profit - %                           47.6%       47.9%       36.9%

    Operating Expenses
    Selling, general and administrative           60          61          60
    Research and development                     118         119         113
    Amortization of acquired intangible
     assets                                        1           1           3
    Purchased in-process research and
     development                                   -           -          55
    Restructuring and other charges - net         28          31           4
    (Gain) on sale of operating assets - net      (3)         (1)         (2)
    Total operating expenses                     204         211         233

    Operating Income (Loss)                      (15)        (18)        (79)
    Other income (expense) - net                   6           6           3
    Interest expense                               6           7           8
    Income (Loss) before income taxes            (15)        (19)        (84)
    Provision for income taxes                     6           4         (16)

    Income (Loss) from Continuing Operations     (21)        (23)        (68)
    Income (Loss) from operations of
     discontinued business                         -           4           -
    Net Income (Loss)                           $(21)       $(19)       $(68)

    Basic and diluted income (loss) per
     share information
    Income (loss) from continuing
     operations                               $(0.11)     $(0.13)     $(0.38)
    Income from discontinued operations          -          0.02         -
    Net income (loss)                         $(0.11)     $(0.11)     $(0.38)
    Weighted average shares outstanding
     -- (in millions)                            178         181         175



                               Agere Systems Inc.
             Reconciliation of Non-GAAP to Unaudited GAAP Measures
                 (Dollars in millions except per share amounts)

                                                                                         Quarter  Ended

                                                                                          Mar  31              Dec  31              Mar  31
                                                                                            2006                  2005                  2005

        Reconciliation  of  Non-GAAP  Net  Income
          (Loss)  to  Net  Income  (Loss)
        Non-GAAP  Net  Income  (Loss)                                $17                    $16                    $(1)
        Restructuring  related  charges,
          including  increased  depreciation                      2                        -                      29
        Stock-based  compensation  expenses
          (excludes  $2  included  in
          restructuring  and  other  charges  -
          net  in  1QFY2006)                                                    10                        8                        -
        Amortization  of  acquired  intangible
          assets                                                                          1                        1                        3
        Purchased  in-process  research  and
          development                                                                -                        -                      55
        Restructuring  and  other  charges  -  net            28                      31                        4
        (Gain)  loss  on  sale  of  operating
          assets  -  net                                                            (3)                    (1)                    (2)
        Reversal  of  tax  contingencies                              -                        -                      22
        Gain  (loss)  from  operations  of
          discontinued  business                                            -                        4                        -
        Net  Income  (Loss)                                                $(21)                $(19)                $(68)

        Reconciliation  of  Non-GAAP  Net  Income
          (Loss)  Per  Share  to  Net  Income
          (Loss)  Per  Share
        Non-GAAP  Net  Income  (Loss)  per  share        $0.10                $0.09              $(0.00)
        Restructuring  related  charges,
          including  increased  depreciation                0.01                        -                  0.16

        Stock-based  compensation  expenses
          (excludes  $0.01  included  in
          restructuring  and  other  charges  -
          net  in  1QFY2006)                                                0.06                  0.04                        -
        Amortization  of  acquired  intangible
          assets                                                                          -                  0.01                  0.01
        Purchased  in-process  research  and
          development                                                                -                        -                  0.32
        Restructuring  and  other  charges  -  net        0.16                  0.17                  0.02
        (Gain)  loss  on  sale  of  operating
          assets  -  net                                                      (0.02)                      -                (0.01)
        Reversal  of  tax  contingencies                              -                        -                  0.12
        Gain  (loss)  from  operations  of
          discontinued  business                                            -                  0.02                        -
        Net  Income  (Loss)  per  share                        $(0.11)            $(0.11)            $(0.38)



                                                                Agere  Systems  Inc.
                                    Unaudited  Net  Income  (Loss)  Per  Share  Guidance


                                                                                                                                Quarter  Ending
                                                                                                                                        Jun  30
                                                                                                                                          2006

        Non-GAAP  Net  Income  (Loss)  (High  End  of  Range)                                    $0.18
        Non-GAAP  Net  Income  (Loss)  (Low  End  of  Range)                                      $0.13

        Less:    Restructuring  and  other  charges  -  net                                          0.06
        Stock-based  compensation  expenses                                                                0.06
        Amortization  of  acquired  intangible  assets                                              0.01
                                                                                                                                          0.13

        Net  Income  (Loss)  (High  End  of  Range)                                                      $0.05
        Net  Income  (Loss)  (Low  End  of  the  Range)                                                $0.00
 





Review Article Be the first to review this article
Synopsys: Custom Compiler

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Diversity: Really, who cares
More Editorial  
Jobs
DDR 3-4-5 Developer with VIP for EDA Careers at San Jose, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Senior Methodology Automation Engineer for EDA Careers at San Jose, CA
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
11th International Conference on Verification and Evaluation of Computer and Communication Systems at 1455 DeMaisonneuve W. EV05.139 Montreal Quebec Canada - Aug 24 - 25, 2017
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
S2C: FPGA Base prototyping- Download white paper



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 Policy