Agere Systems reported quarterly revenue of $516 million, up 18% from revenues in the year-ago quarter, and up 2% sequentially, exceeding the company’s guidance. The company reported a GAAP net loss of $39 million, or $0.02 per share, which included a restructuring charge of $47 million, a majority of which was related to the decommissioning of Agere’s former manufacturing facilities, and a purchased in-process R&D charge of $13 million related to the company’s recent acquisition of TeraBlaze.
The company was profitable on a pro forma net income basis, with earnings of $22 million, or $0.01 per share.
Agere said the increase over the year-ago quarter was driven by a 33% growth in the company’s Client Systems business, with strength in sales of chips for mobile phones, hard disk drives and other PC-related applications.
The Infrastructure Systems Group reported revenues of $118 million, down 13% from the year-ago quarter and 4% sequentially. The sequential decline was due to a decrease in revenues from intellectual property licensing and mature telephony products, partially offset by an increase in sales of the company’s wireline and wireless infrastructure products. http://www.agere.com
