Expects Q4 revenue to increase by 3% to 6%
Avago Technologies has posted net revenues of $550m for the third quarter of 2010, an increase of 52% compared to $363m reported in the same quarter previous year.
For the third quarter ended 1 August 2010 the company posted operating income of $135m, an increase of 463% compared to $24m for the same period last year, while operating expenses increased to $128m from $117m in the same quarter previous year.
Avago Technologies reported a net income of $123m, or $0.50 per share, for the third quarter ended 1 August 2010, compared to a net income of $2m, or $0.01 per share, for the same quarter in fiscal 2009.
Avago Technologies president and chief executive officer Hock Tan said that their business reached a historic milestone in the third quarter of fiscal 2010.
"In addition to another record net revenue quarter, Avago’s non-GAAP Gross Margin surpassed 50% as they continued to execute well on our strategy of expanding gross margins," Tan said.
"Our business remains robust and our proprietary products continue to gain momentum as we win more programs at major OEMs."
Avago Technologies expects revenues to increase by 3% to 6% and operating expenses to be $131m for the fourth quarter of fiscal year 2010 ending 31 October 2010.