ALLENTOWN, Pa.--Agere Systems Inc. reported a GAAP net income of $74 million or $0.04 per share, for the second quarter of fiscal 2004, compared to the year-ago net loss of $125 million or minus $0.08 per share, and the December quarter net loss of $39 million, or minus $0.02 per share.
The company's revenues were $462 million, up 4 percent over the year-ago quarter, and down 10 percent sequentially. The sequential decline was due primarily to the forecasted decrease in sales of 3G chipsets for mobile phones.
"While delays in 3G mobile phone deployment impacted our overall March quarter revenues, we saw strong growth in sales of 2.5G chipsets to all of our customers, and fully expect 3G revenues to increase in the June quarter," said John Dickson, president and CEO of Agere, in a statement.
In the June quarter, the company expects to report revenues in the range of $495 to $505 million. The company expects both GAAP and pro forma earnings to be in the range of breakeven to $0.01 per share.