reported third-quarter earnings that beat analysts' estimates for the period.
The company, a developer of integrated circuits for the broadband communications markets, posted income of $78.7 million, or 30 cents a diluted share, compared with $28.7 million, or 12 cents a share, in the year-ago period. Income figures exclude the effects of acquisition-related expenses and payroll taxes on certain stock option exercises. Wall Street was expecting the company to earn 24 cents a share for the quarter, according to a
First Call/Thomson Financial
poll of 19 analysts.
Revenue for the third quarter rose to $319.2 million from $139.6 million reported in the year-ago period. The company said it saw "brisk" demand across its business lines, from set-top boxes and cable modems to enterprise networking equipment.