Broadcom Reports Sixth Quarter of Revenue Growth

Broadcom reported its sixth consecutive quarter of revenue growth. Net revenue for Q4 2002 was $295.9 million, up 2.1% over the previous quarter and up 30.5% from Q4 2001. Net loss for the quarter (GAAP) was $1.76 billion, or $6.40 per share. Pro forma non-GAAP net loss for the fourth quarter of 2002 was $6.6 million, or $.02 per share. The GAAP results included a non-cash goodwill impairment charge of $1.24 billion. Broadcom also recorded restructuring charges of $87.8 million to cover the costs of reduction of facilities and employee severance arrangements.
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