Broadcom Reports Fourth Quarter and Full Year 2010 Results

IRVINE, Calif. — Broadcom Corporation (Nasdaq: BRCM) today reported unaudited financial results for its fourth quarter and year ended December 31, 2010.

Net revenue for the fourth quarter of 2010 was a record $1.95 billion. This represents an increase in net revenue of 7.7% compared with the $1.81 billion reported for the third quarter of 2010 and an increase of 44.9% compared with the $1.34 billion reported for the fourth quarter of 2009. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2010 was $266 million, or $.47 per share (diluted), compared with GAAP net income of $327 million, or $.60 per share (diluted), for the third quarter of 2010, and GAAP net income of $59 million, or $.11 per share (diluted), for the fourth quarter of 2009.

Net revenue for the year ended December 31, 2010 was $6.82 billion. This represents an increase in net revenue of 51.8% from the $4.49 billion reported for the year ended December 31, 2009. Net income computed in accordance with GAAP for the year ended December 31, 2010 was $1.08 billion, or $1.99 per share (diluted), compared with GAAP net income of $65 million, or $.13 per share (diluted), for the year ended December 31, 2009.

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