Semiconductor manufacturer Broadcom Corp. (NASDAQ: BRCM) reported fourth quarter and full year earnings after markets closed today. The company posted adjusted fourth-quarter EPS of $0.68, beating the consensus estimate of $0.65. Revenue totaled $1.82 billion, slightly better than the expected $1.8 billion. The company is a major chip supplier to Apple Inc. (NASDAQ: AAPL).
For the full fiscal year, Broadcom revenues equaled $7.39 billion, beating expectations of $7.37 billion and adjusted EPS came in a $2.89, beating the consensus estimate of $2.87.
The company guided first quarter 2012 revenue at $1.7-$1.8 billion and non-GAAP gross margin “roughly flat” with the fourth quarter’s gross margin of 49.3%. Full year 2011 adjusted gross margin equaled $49.4%.
Apparently Broadcom’s report satisfied investors, who have added 3% to the share price in after -hours trading. Shares are now up at $35.38 in a 52-week range of $27.59-$46.75. Still, a flat year of gross margins is not much to hang one’s hat on.
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