Broadcom Reports Fourth Quarter and Full Year 2013 Results

IRVINE, Calif. — Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, today reported unaudited financial results for its fourth quarter and year ended December 31, 2013.

Net revenue for the fourth quarter of 2013 was $2.06 billion. This represents a decrease of 3.8% compared with the $2.15 billion reported for the third quarter of 2013 and a decrease of 0.8% compared with the $2.08 billion reported for the fourth quarter of 2012. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2013 was $168 million, or $0.29 per share (diluted), compared with GAAP net income of $316 million, or $0.55 per share (diluted), for the third quarter of 2013 and GAAP net income of $251 million, or $0.43 per share (diluted), for the fourth quarter of 2012.

Net revenue for the year ended December 31, 2013 was $8.31 billion. This represents an increase in net revenue of 3.7% from the $8.01 billion reported for the year ended December 31, 2012. Net income computed in accordance with GAAP for the year ended December 31, 2013 was $424 million, or $0.73 per share (diluted), compared with GAAP net income of $719 million, or $1.25 per share (diluted), for the year ended December 31, 2012.