Boston, MA 02\/03\/2014 (wallstreetpr) – Posting a mixed set of financial results for its recently ended fourth quarter of fiscal year 2013, USA-based semiconductor technology major\u00a0Broadcom Corporation (NASDAQ:BRCM) posted significantly lower revenue and net income, though exceeding analyst estimates.<\/p>\n
Broadcom\u2019s 4Q Earnings Report<\/b><\/p>\n
Broadcom Corporation (NASDAQ:BRCM)\u2019s <\/b>registered net income of about $366 million for its fourth quarter, as compared to about $462 million seen for the corresponding FY2012 quarter, while its reported adjusted net income of $168 million in fourth quarter 2013 versus $251 million. According to Broadcom, key factors that impacted the lower earnings were drops in revenues and significantly elevated operating costs.<\/p>\n
For the full fiscal year 2013, Broadcom\u2019s GAAP net income stood at around $424 million, or $0.73 a share, from about $719 million for the corresponding quarter of FY2012, amounting to $1.25 a share. Net income calculated on a non-GAAP basis for fiscal 2013 came in at approximately $1.7 billion, compared with $1.8 billion a year ago.<\/p>\n
While revenues for its fourth quarter slid down 0.8% to about $2.06 billion over a year ago, the revenues surpassed consensus analyst estimates of about $2.02 billion. For the full fiscal 2013, Broadcom\u2019s revenues were about $8.3 billion, significantly up from around $8 billion seen in the fourth quarter of FY2012.<\/p>\n
Earnings Per Share<\/b><\/p>\n
Broadcom Corporation (NASDAQ:BRCM)\u2019s fourth quarter netted earnings of $0.60 a share, which fell below the $0.76 seen for the corresponding FY2012 quarter, while still exceeding analyst predictions of $0.38 a share. Earnings based on net income stood at about $0.29 a share, compared to $0.43 a share seen a year before. The adjusted earnings for the full fiscal year 2013, however, surpassed the analyst predictions of $1.84.<\/p>\n
2014 Revenue Guidance<\/b><\/p>\n
For its first quarter 2014,\u00a0Broadcom Corporation (NASDAQ:BRCM) anticipates net revenue of around $1.9 billion to $2.0 billion, as the company predicts higher costs in research & development as also sales and other administrative expenses.<\/p>\n
Broadcom predicts better prospects in the upcoming quarters, supplemented by improved market penetration and technology deployments. Broadcom shares rose to $29.76 on January 31 from their previous $29.21, with after-hours improving to $29.80.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 02\/03\/2014 (wallstreetpr) – Posting a mixed set of financial results for its recently ended fourth quarter of fiscal year 2013, USA-based semiconductor technology […]<\/p>\n","protected":false},"author":2,"featured_media":14202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[2953,880],"stock_ticker":[],"class_list":["post-14201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-broadcom-corporation-nasdaqbrcm","tag-nasdaqbrcm","entry"],"acf":[],"yoast_head":"\n