MILPITAS, Calif.--LSI Logic Corp. reported 2004 first quarter revenues of $452 million, an increase of 21 percent compared to the $373 million reported in the first quarter of 2003 and a 2 percent seasonal decrease compared to the $463 million reported in the fourth quarter of 2003.
The 2004 first quarter net income was $9 million or 2 cents per diluted share compared to a GAAP net loss of $122 million or 33 cents per diluted share in the 2003 first quarter.
"LSI Logic's Storage Components business, which includes Storage ASICs, Storage Standard Products and RAID Storage Adapters, recorded a solid performance in the first quarter," said Wilfred Corrigan, LSI Logic chairman and chief executive officer, in a statement. "In Communications, LSI Logic's sales to enterprise networking customers continued to demonstrate improvement, while telecommunications is expected to resume its long-term growth rate later this year. In Consumer, video game revenues declined seasonally as expected."