The company recorded an impairment charge of $169.4m
Broadcom has reported a net loss of $159.2m for the fourth quarter 2008, compared to a profit of $90.3m in the year-ago quarter, on revenue up 9.7% at $1.12 billion. It made an operating loss of $165m compared to $56m in the year-ago quarter.
During the quarter, the company recorded an impairment charge of $169.4m. It also recorded a charge of $31.5m related to its acquisition of AMD’s digital TV business.
For the fiscal year, it reported net income of $214.8m compared to $213.3m last year, on revenue up 23.3% at $4.65 billion. Operating income was $172m compared to $85m in the previous year.
Scott A McGregor, president and chief executive at Broadcom, said: Broadcom’s key goals for 2009 are to manage costs and focus on operating cash flow. Consistent with those goals, we have been reducing controllable ongoing expenses since the third quarter of 2008 and are implementing further cost saving measures this quarter, including a delay in salary increases, a reduction in our workforce, and a variety of other belt-tightening actions on discretionary spending.
Looking ahead to the first quarter 2009, the company expects revenue of between $800m and $875m with a gross margin of 49%.