Posts net income of $266.2m in Q4 2010
Broadcom, a provider of semiconductors for wired and wireless communications, has reported revenue of $1.95bn for the fourth quarter of 2010, an increase of 45% compared to $1.34bn in the same quarter previous year.
Product revenue was up $1.9bn, compared to $1.3bn, Income from Qualcomm agreement was $51.6m, while revenue from licensing was down to $4.7m, compared to $7.6m in the previous year quarter.
For the quarter, operating income was $268.1m compared to operating income of $58.8m in the fourth quarter of 2009.
Net income for the fourth quarter of 2010 was $266.2m, or $0.47 per diluted share, compared to net income of $59.2m, or $0.11 per share in the fourth quarter of 2009.
For the fiscal year 2010, the company’s total revenues increased to $6.82bn, operating income $1.1bn, and net income $1.1bn from $4.5bn, $56.1m, and $65.3m, respectively, in the previous fiscal year.
Broadcom president and CEO Scott McGregor said the company gained significant market share and delivered record revenue, earnings per share, and cash flow from operations.
"Our achievements highlight the incredible capabilities of our employees to create innovative offerings in the wired and wireless communications markets," McGregor said.