Avago records $387m revenue
03 Sep 2007
Avago Technologies has announced its financial results for the third quarter of the 2007 fiscal year.
The firm recorded net revenues of $387m (£191.9m), a figure that was approximately even compared to the previous quarter.
Avago reports that improved revenue in consumer and computer peripherals was offset by weaker performance in the automotive, industrial and business infrastructure sectors, with these differences attributed to expected seasonal trends.
Net loss for the third quarter was reported at $167m, down from a profit of $4m in the quarter ended April 2007.
Hock E Tan, president and chief executive officer of Avago Technologies, said: "Over the last two quarters we have delivered solid operational results during a challenging period in the semiconductor industry."
Mr Tan added that in July 2007, the firm purchased the polymer optical fibre segment of Infineon, boosting its position in the emerging auto infotainment industry, while the firm would continue to aim for both organic and acquisition-led growth.
In April 2007, Avago announced the completion of its debt tender offer for the purchases of a portion of Senior Notes due in 2013.
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