Broadcom Reports Q1 Results

Net revenue for the first quarter was $238.8M, an increase of 5.3% over the fourth quarter of 2001

April 18, 2002

1 Min Read

IRVINE, Calif. -- Broadcom Corporation (Nasdaq: BRCM), the leading provider of integratedcircuits enabling broadband communications, today reported financial resultsfor the first fiscal quarter ended March 31, 2002.Net revenue for the first quarter of 2002 was $238.8 million, an increaseof 5.3% over the $226.8 million reported in the fourth quarter of 2001 and adecrease of 23.1% from the $310.5 million reported in the first quarter of2001. Pro forma net loss for the first quarter of 2002 was $21.9 million, or$.08 per share (basic and diluted). This compares with pro forma net loss of$28.8 million, or $.11 per share (basic and diluted), in the fourth quarter of2001, and pro forma net income of $18.1 million, or $.06 per share (diluted),in the first quarter of 2001.Broadcom reports net income (loss) and diluted earnings (loss) per sharein accordance with generally accepted accounting principles (GAAP) andadditionally on a pro forma basis, which excludes the effects of certainacquisition-related expenses, payroll taxes on certain stock option exercises,certain non-recurring charges, such as goodwill impairment, restructuringcosts and loss on strategic investments, non-operating gains, and relatedincome tax effects. Including these charges and effects, substantially all ofwhich were non-cash, net loss for the first quarter of 2002 was $166.1million, or $.63 per share (basic and diluted), compared with a net loss of$329.6 million, or $1.27 per share (basic and diluted), in the fourth quarterof 2001, and a net loss of $356.9 million, or $1.43 per share (basic anddiluted), in the first quarter of 2001. Broadcom uses pro forma reportinginternally to evaluate its operating performance and believes thispresentation provides its investors with additional insight into itsunderlying operating results.Broadcom Corp.

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