| AVAGO TECHNOLOGIES LIMITED | ||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED | ||||||||||||
| (IN MILLIONS, EXCEPT PER SHARE DATA) | ||||||||||||
| Quarter ended | ||||||||||||
|
January 29,
|
October 30,
|
January 30,
|
||||||||||
| Net revenue | $ | 563 | $ | 623 | $ | 550 | ||||||
| Cost of products sold: | ||||||||||||
| Cost of products sold | 279 | 305 | 265 | |||||||||
| Amortization of intangible assets | 14 | 14 | 14 | |||||||||
| Total cost of products sold | 293 | 319 | 279 | |||||||||
| Gross margin | 270 | 304 | 271 | |||||||||
| Research and development | 82 | 83 | 73 | |||||||||
| Selling, general and administrative | 50 | 55 | 50 | |||||||||
| Amortization of intangible assets | 5 | 6 | 6 | |||||||||
| Restructuring charges | 1 | 1 | - | |||||||||
| Total operating expenses | 138 | 145 | 129 | |||||||||
| Income from operations | 132 | 159 | 142 | |||||||||
| Interest expense | (1 | ) | - | (3 | ) | |||||||
| Loss on extinguishment of debt | - | - | (19 | ) | ||||||||
| Other expense, net | (1 | ) | - | - | ||||||||
| Income before income taxes | 130 | 159 | 120 | |||||||||
| Provision for income taxes | 5 | 5 | 1 | |||||||||
| Net income | $ | 125 | $ | 154 | $ | 119 | ||||||
| Net income per share: | ||||||||||||
| Basic | $ | 0.51 | $ | 0.63 | $ | 0.49 | ||||||
| Diluted | $ | 0.50 | $ | 0.61 | $ | 0.48 | ||||||
| Shares used in per share calculations: | ||||||||||||
| Basic | 245 | 246 | 242 | |||||||||
| Diluted | 250 | 252 | 250 | |||||||||
| Share-based compensation included in: | ||||||||||||
| Cost of products sold | $ | 1 | $ | 1 | $ | 1 | ||||||
| Research and development | 4 | 4 | 3 | |||||||||
| Selling, general and administrative | 6 | 6 | 3 | |||||||||
| Total share-based compensation | $ | 11 | $ | 11 | $ | 7 | ||||||
| AVAGO TECHNOLOGIES LIMITED | ||||||||||||
| NON-GAAP FINANCIAL SUMMARY - UNAUDITED(1) | ||||||||||||
| (IN MILLIONS, EXCEPT PERCENTAGES AND PER SHARE DATA) | ||||||||||||
| Quarter ended | ||||||||||||
|
January 29,
|
October 30,
|
January 30,
|
||||||||||
| Net revenue | $ | 563 | $ | 623 | $ | 550 | ||||||
| Gross margin | $ | 285 | $ | 319 | $ | 286 | ||||||
| % of net revenue | 51 | % | 51 | % | 52 | % | ||||||
| Research and development | $ | 78 | $ | 79 | $ | 70 | ||||||
| Selling, general and administrative | $ | 44 | $ | 49 | $ | 47 | ||||||
| Total operating expenses | $ | 122 | $ | 128 | $ | 117 | ||||||
| % of net revenue | 22 | % | 21 | % | 21 | % | ||||||
| Income from operations | $ | 163 | $ | 191 | $ | 169 | ||||||
| Interest expense | $ | (1 | ) | $ | - | $ | (3 | ) | ||||
| Net income | $ | 156 | $ | 186 | $ | 165 | ||||||
| Net income per share - diluted | $ | 0.62 | $ | 0.73 | $ | 0.65 | ||||||
| Shares used in per share calculation - diluted | 253 | 255 | 254 | |||||||||
