SAN JOSE, Calif. & SINGAPORE — (BUSINESS WIRE) — January 15, 2010 — Avago Technologies Limited (Nasdaq: AVGO), today announced that, based on preliminary quarter-to-date results, it now expects revenue in the first fiscal quarter ending January 31, 2010 to be up 3.0 - 5.0% sequentially from the fourth fiscal quarter of 2009. Previous guidance issued on December 3, 2009 had been for revenue to be in the range of flat to down 3% sequentially.
The improvement in forecasted results for the first fiscal quarter is primarily the result of stronger than anticipated sales in the wired infrastructure and industrial target markets. In addition, during the quarter to date the Company has seen a degree of price stabilization across all of its target markets.
The updated financial outlook for the first quarter of fiscal year 2010 from the prior quarter follows:
|
GAAP |
Reconciling Items |
Non-GAAP |
||||
| Revenue | up 3.0% to 5.0% | up 3.0% to 5.0% | ||||
| Gross Margin | 41.5% plus/minus 50 bpt. | $15M | 45.0% plus/minus 50 bpt. | |||
| Operating Expenses | $117M | $11M | $106M | |||
| Interest and Other | $34M | $24M | $10M | |||
| Taxes | $3M to $4M | $3M to $4M | ||||
| Diluted Share Count | 245M | 248M |
