Broadcom reported net revenue for the fourth quarter of 2005 of $820.6 million, an increase of 18.1% from the $695.0 million reported for the third quarter of 2005 and an increase of 52.1% from the $539.4 million reported for the fourth quarter of 2004. Net income (GAAP) was $194.8 million, or $.50 per share (diluted).
“Trends in communications and convergence provided a one-two punch that drove Broadcom to record levels of revenue, net income, and cash and marketable securities in 2005,” said Scott McGregor, Broadcom’s President and Chief Executive Officer. “The continued migration to Gigabit Ethernet in the enterprise, the convergence of voice and Wi-Fi into broadband modems, the adoption of personal video recording and high definition video in cable, satellite and Internet Protocol (IP) set-top boxes, the convergence of video and audio in portable devices, and the adoption of Bluetooth into cell phones, headsets and PCs are just some of the communications and convergence trends occurring in our end markets.”http://www.broadcom.com
