- Net revenue up 5.0 percent sequentially to $606 million, up 0.5 percent from Q3 last year
- GAAP gross margin of 48.7 percent; Non-GAAP gross margin of 51.2 percent
- GAAP earnings per diluted share of $0.58; Non-GAAP earnings per diluted share of $0.72
SAN JOSE, Calif. and SINGAPORE , Aug. 16, 2012 (GLOBE NEWSWIRE) -- Avago Technologies Limited (Nasdaq:AVGO), a leading supplier of analog interface components for communications, industrial and consumer applications, today reported financial results for the third quarter of its fiscal year 2012, ended July 29, 2012, and provided guidance for the fourth quarter of its fiscal year 2012.
Third Quarter Fiscal Year 2012 GAAP Results
Net revenue was $606 million, an increase of 5.0 percent compared with the previous quarter and 0.5 percent from the same quarter last year.Gross margin was $295 million, or 48.7 percent of net revenue. This compares with gross margin of $278 million, or 48.2 percent of net revenue last quarter, and gross margin of $297 million, or 49.3 percent of net revenue in the same quarter last year. Operating expenses were $146 million. This compares with $141 million in the prior quarter and $152 million for the same quarter the previous year. Income from operations was $149 million. This compares with $137 million in the prior quarter and with $145 million in the same quarter last year. Third quarter net income was $145 million, or $0.58 per diluted share. This compares with net income of $134 million, or $0.54 per diluted share for the prior quarter, and net income of $144 million, or $0.57 per diluted share in the same quarter last year. The Company's cash balance at the end of the third quarter was $973 million, compared to $954 million at the end of the prior quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV