Broadcom Reports Fourth Quarter and Year 2009 Results

IRVINE, Calif. — Broadcom Corporation (Nasdaq: BRCM) today reported unaudited financial results for its fourth quarter and year ended December 31, 2009.

Net revenue for the fourth quarter of 2009 was a record $1.343 billion. This represents an increase in net revenue of 7.1% compared with the $1.254 billion for the third quarter of 2009 and an increase of 19.2% compared with the $1.127 billion for the fourth quarter of 2008. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2009 was $59.2 million, or $.11 per share (diluted), compared with GAAP net income of $84.6 million, or $.16 per share (diluted), for the third quarter of 2009, and GAAP net loss of $159.2 million, or $.32 net loss per share (basic and diluted), for the fourth quarter of 2008.

Net revenue for the year ended December 31, 2009 was $4.490 billion. This represents a decrease in net revenue of 3.6% from the $4.658 billion reported for the year ended December 31, 2008. GAAP net income for the year ended December 31, 2009 was $65.3 million, or $.13 per share (diluted), compared with $214.8 million, or $.41 per share (diluted), for the year ended December 31, 2008.

More: Earnings Release