Broadcom Posts Billion Dollar Year

IRVINE, Calif. -- Broadcom Corporation (Nasdaq:BRCM), the leading provider of integrated circuits enabling broadbandcommunications, today reported record financial results for the fourthfiscalquarter and year ended December 31, 2000.Revenue for the fourth quarter was a record $376.1 million, an increaseof132% over the $162.0 million reported in the fourth quarter of 1999 andanincrease of 18% over the $319.2 million reported in the third quarter of2000. Pro forma net income was a record $86.7 million, or $.32 per share(diluted). This compares with pro forma net income of $32.0 million, or$.13per share (diluted), for the same quarter in 1999, and pro forma netincomeof $78.7 million, or $.30 per share (diluted), in the third quarter of2000.

For the full year 2000, revenue was a record $1.1 billion, an increaseof117% over the $521.2 million reported for 1999. Pro forma net income for2000 was a record $271.4 million, an increase of 172% over the $99.8million for 1999. Pro forma diluted earnings per share were $1.04, basedon261.4 million weighted average shares outstanding, versus $.42 per shareon235.7 million weighted average shares in 1999. Including the chargesexcluded in pro forma reporting, net loss for the year 2000 was $693.4million, or $3.15 per share.

"Our fourth quarter and full year financial results demonstrated thestrengthof our traditional product lines as well as the solid growth we areexperiencing in new and emerging markets, many of which we areresponsible for creating," said Dr. Henry T. Nicholas III, Broadcom'sPresident and CEO. "During the year, Broadcom reached the $1 billionrevenue level, a significant milestone that made us the fastest growingU.S.semiconductor company to date, a testament to both the company's abilityto execute well in multiple broadband markets and the tremendous growthofthose markets."

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