Avago Technologies reported record net revenue of $623 million, an increase of 3 percent compared with the previous quarter, and up 9 percent from the same quarter last year. Fourth quarter net income was $154 million, or $0.61 per diluted share, up from $144 million, or $0.57 per diluted share last quarter, and net income of $164 million, or $0.66 per diluted share in the same quarter last year. Gross margin was $304 million, or 48.8 percent of net revenue. This compares with gross margin of $297 million, or 49.3 percent of net revenue last quarter, and gross margin of $276 million, or 48.3 percent of net revenue in the same quarter last year.
“Despite a slowdown in our Industrial market, we delivered sequential revenue growth in the fourth quarter as we ramped with next generation smartphones,�? said Hock Tan, President and CEO of Avago Technologies Limited. “However, looking to the first quarter, we expect a seasonal slow-down in handsets while the supply chain contraction in our Industrial market continues.�?http://www.avagotech.com
