Agere Systems reported quarterly revenues of $495 million, up 9% over the year-ago quarter, and 7% sequentially, driven by growth in sales of chips for mobile phones and wireless infrastructure, as well as an increase in revenues from intellectual property licensing. The company reported a GAAP net income of $2 million or breakeven per share, compared with the year-ago net loss of $78 million or $0.05 per share.
The company also announced it will simplify its organization structure to focus more sharply on its four key markets: mobility, storage, enterprise and networking, and telecommunications. The reorganization eliminates the Infrastructure Systems and Client Systems structure, which removes a layer of management.
The Mobility division, which will include the company’s mobile phone, Wi-Fi, voice over IP and mobile entertainment device ICs, will be led by Luc Seraphin, who has spearheaded the company’s growth in mobile phones. The Storage division will continue to be led by Joe O’Hare, who has expanded Agere’s storage IC leadership into one-inch drives. Enterprise and Networking will include custom solutions, modem ICs and computer I/O products and will be led by Necip Sayiner, who has successfully grown the company’s custom silicon business. Telecommunications, which will include all standard solutions for wireless and wireline infrastructure, will be led by Denis Regimbal, who has extensive experience in programmable devices and DSPs. http://www.agere.com
