Broadcom Reports Fourth Quarter and Year 2008 Results

IRVINE, Calif. — Broadcom Corporation (Nasdaq: BRCM) today reported unaudited financial results for its fourth quarter and year ended December 31, 2008.

Net revenue for the fourth quarter of 2008 was $1.127 billion, a decrease of 13.2% compared with the $1.298 billion reported for the third quarter of 2008 and an increase of 9.7% compared with the $1.027 billion reported for the fourth quarter of 2007. Net loss computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2008 was $159.2 million, or $.32 net loss per share (basic and diluted), compared with GAAP net income of $164.9 million, or $.31 per share (diluted), for the third quarter of 2008, and GAAP net income of $90.3 million, or $.16 per share (diluted), for the fourth quarter of 2007. The company’s financial results for the fourth quarter of 2008 reflect impairment charges of goodwill and certain tangible assets of its mobile platforms business group, as well as in-process research and development charges associated with its acquisition of the digital TV business of Advanced Micro Devices, Inc. These charges represented cumulative reductions in net income of $0.40 per share (diluted).

Net revenue for the year ended December 31, 2008 was $4.658 billion, an increase of 23.3% from the $3.776 billion reported for the year ended December 31, 2007. Net income computed in accordance with GAAP for the year ended December 31, 2008 was $214.8 million, or $.41 per share (diluted), compared with GAAP net income of $213.3 million, or $.37 per share (diluted), for the year ended December 31, 2007.

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