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Broadcom And QLogic Announce Sale And Purchase Of Certain Ethernet Controller-related Assets And Entry Into ASIC Partnership

Stocks in this article: BRCM QLGC

Excluding potential one-time gains related to this asset sale, Broadcom expects the transaction to be slightly accretive to earnings per share in 2014.

QLogic expects this transaction to be immediately accretive to revenue and non-GAAP earnings per share.

QLogic to Host Investors’ Conference Call

QLogic will host a conference call for analysts and investors today at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the transaction. The call and materials to be presented will be webcast live via the Internet at http://ir.qlogic.com. Phone access to participate in the conference call is available at (888) 713-4487, passcode 6366233.

The transaction information that QLogic intends to discuss during the conference call will be available on QLogic’s website at http://ir.qlogic.com for twelve months following the conference call. A replay of the conference call will be available via webcast at http://ir.qlogic.com for twelve months.

About Broadcom

Broadcom Corporation (NASDAQ: BRCM), a FORTUNE 500® company, is a global leader and innovator in semiconductor solutions for wired and wireless communications. Broadcom® products seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environments. With the industry's broadest portfolio of state-of-the-art system-on-a-chip solutions, Broadcom is changing the world by connecting everything®. For more information, go to www.broadcom.com.

About QLogic – the Ultimate in Performance

QLogic (NASDAQ:QLGC) is a global leader and technology innovator in high performance server and storage networking connectivity products. Leading OEMs and channel partners worldwide rely on QLogic for their server and storage networking solutions. For more information, visit www.qlogic.com.

Cautions Regarding Forward-Looking Statements

All statements included or incorporated by reference in this release and the related conference call for analysts and investors, other than statements or characterizations of historical fact, are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Broadcom’s and QLogic’s respective current expectations, estimates and projections about their respective industry and business, management’s beliefs, and certain assumptions made by Broadcom and QLogic, all of which are subject to change. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions, and variations or negatives of these words. Examples of such forward-looking statements include, but are not limited to, references to the benefits of the transaction to customers, the impact of the acquisition on earnings per share, and the expected date of closing of the transaction. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those expressed in any forward-looking statement.

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