Avago Tech (NASDAQ: AVGO) reported Q4 EPS of $1.99, $0.33 better than the analyst estimate of $1.66. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.55 billion.

First Quarter Fiscal Year 2015 Business Outlook

Based on current business trends and conditions, the outlook for continuing operations for the first quarter of fiscal year 2015, ending February 1, 2015, is expected to be as follows:

Reconciling items include:

• Non-GAAP Revenue includes $21 million of LSI intellectual property licensing revenue, not included in GAAP revenue as a result of the effects of purchase accounting for the LSI acquisition;
• Non-GAAP Gross Margin includes the effects of $21 million of LSI intellectual property licensing revenue and excludes the effects of $113 million of amortization of intangible assets, $6 million of share-based compensation expense, $2 million of restructuring charges, and $4 million of inventory step-up charges to record PLX inventory at fair value, as part of the purchase accounting for the PLX Technology acquisition;
• Non-GAAP Operating Expenses exclude $59 million of amortization of intangible assets, $45 million of share-based compensation, $11 million of restructuring charges, and $16 million of acquisition-related costs; and
• $4 million provision at the Taxes line, which represents the tax effects of the reconciling items noted above.

Capital expenditures for full fiscal year 2015 are expected to be approximately $600 million, of which approximately $200 million is expected to occur in the first quarter. For the first quarter depreciation is expected to be $52 million and amortization is expected to be $172 million.

For earnings history and earnings-related data on Avago Tech (AVGO) click here.