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July 22, 1998

BROADCOM REPORTS SALES UP 737%

By CBR Staff Writer

After its IPO in April the communications chip designer Broadcom Corp, with a market capitalization of $3.3bn, has posted sales up 737% to $45.2m in its second quarter. Profits were boosted to $7.7m from losses last time of $1.1m, and the quarter’s earnings per share of $0.16 beat by three cents First Call analysts consensus earnings estimates of $0.13. Broadcom is rapidly gaining a large share of the market for communications chipsets in consumer devices with designs for cable modems, ADSL modems, satellite receivers and set-top boxes. The company’s customer base includes 3Com Corp, Bay Networks Inc, Cisco Systems Inc, Motorola Inc, Northern Telecom Ltd, Sony Corp and Scientific Atlanta Co.

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