Broadcom Fourth Quarter 2011
Broadcom Updates Financial Guidance for the Fourth Quarter of 2011
News Release from:
21 December 2011
Broadcom Corporation today updated its financial guidance for the fourth quarter of 2011 at its 2011 Analyst Day in New York.
The following estimates are based on the current business outlook:
• Net Revenue: Increased to the high end of the prior range to approximately $1.8 billion.
• Product Gross Margin (GAAP and Non-GAAP): Increased to the high end of the prior range to roughly flat sequentially.
• R&D Plus SG&A Expenses (GAAP and Non-GAAP): Estimated to be approximately $5 million favorable on a GAAP basis and at the midpoint of prior guidance on a non-GAAP basis due to slower than anticipated hiring ramps and certain credits in the period.
• Ending Cash & Marketable Securities: Increase sequentially to approximately $5.1 billion on strong cash flow and a completed debt offering.
Broadcom's Q4 is coming in stronger than expected driven by solid shipments and tight operational management, said Scott McGregor, President and Chief Executive Officer of Broadcom.
For further information regarding Broadcom's updated guidance for the fourth quarter of 2011, see the Updated Guidance for the Three Months Ending December 31, 2011 at the end of this release.
Broadcom's fourth quarter business outlook was originally published in the company's third quarter 2011 earnings release, with the exception of fourth quarter guidance on ending cash and marketable securities, which was not provided previously.