Avago Technologies Updates First Quarter Fiscal 2010 Financial Guidance

SAN JOSE, Calif. & SINGAPORE — (BUSINESS WIRE) — January 15, 2010 — Avago Technologies Limited (Nasdaq: AVGO), today announced that, based on preliminary quarter-to-date results, it now expects revenue in the first fiscal quarter ending January 31, 2010 to be up 3.0 - 5.0% sequentially from the fourth fiscal quarter of 2009. Previous guidance issued on December 3, 2009 had been for revenue to be in the range of flat to down 3% sequentially.

The improvement in forecasted results for the first fiscal quarter is primarily the result of stronger than anticipated sales in the wired infrastructure and industrial target markets. In addition, during the quarter to date the Company has seen a degree of price stabilization across all of its target markets.

The updated financial outlook for the first quarter of fiscal year 2010 from the prior quarter follows:

     
 

GAAP

Reconciling Items

Non-GAAP

Revenue up 3.0% to 5.0% up 3.0% to 5.0%
Gross Margin 41.5% plus/minus 50 bpt. $15M 45.0% plus/minus 50 bpt.
Operating Expenses $117M $11M $106M
Interest and Other $34M $24M $10M
Taxes $3M to $4M $3M to $4M
Diluted Share Count 245M 248M

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