Avago Technologies Updates Third Quarter Fiscal 2010 Financial Guidance

SAN JOSE, Calif. & SINGAPORE — (BUSINESS WIRE) — August 10, 2010 — Avago Technologies Limited (Nasdaq: AVGO), today announced that, based on preliminary results, it now expects revenue in the third fiscal quarter ended August 1, 2010 to be approximately $550 million. Previous guidance issued on May 26, 2010 had been for revenue to be in the range of up 4-7% sequentially.

The updated financial outlook for the third quarter of fiscal year 2010 follows:

           

GAAP

     

Reconciling Items

     

Non-GAAP

Net revenue ~$550M ~$550M
Gross margin ~48% ~$17M ~50%
Operating expenses ~$128M ~$12M ~$116M

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