MANHASSET, N.Y. Communications semiconductor supplier Broadcom Corp. posted fourth-quarter 2005 net earnings of $194 million, or 50 cents per share on sales of $820.6 million, compared with $71.1 million, or 20 cents per share on sales of $539.4 million in the year-ago quarter.
Broadcom (Irvine, Calif.) also saw results improve from $132.7 million, or 35 cents per share on sales of $695.0 million the third quarter. The company was expected to earn 39 cents per share on sales of $770.0 to $800.0 million, according to analysts.
For 2005, Broadcom posted net earnings of $411.7 million, or $1.10 per share on sales of $2.67 billion, compared with $218.7 million, or 63 cents per share on sales of $2.40 billion in 2004.
"Trends in communications and convergence provided a one-two punch that drove Broadcom to record levels of revenue, net income, and cash and marketable securities in 2005," said Scott McGregor, Broadcom's president and chief executive, in a statement.