Avago Tech (AVGO) Tops Q1 EPS by 16c; Issues Q2 Outlook

February 25, 2015 4:11 PM

Avago Tech (NASDAQ: AVGO) reported Q1 EPS of $2.09, $0.16 better than the analyst estimate of $1.93. Revenue for the quarter came in at $1.66 billion versus the consensus estimate of $1.64 billion.

Second Quarter Fiscal Year 2015 Business Outlook

Based on current business trends and conditions, the outlook for continuing operations for the second quarter of fiscal year 2015, ending May 3, 2015, is expected to be as follows:

GAAPReconciling ItemsNon-GAAP
Sequential Change in Net Revenuedown 4% to flat$33Mdown 3% to up 1%
Gross Margin50.0% plus/minus 1%$152M58.5% plus/minus 1%
Operating Expenses$422M$128M$294M
Interest and Other$49M--$49M
Taxes$30M$7M$37M
Diluted Share Count282M7M289M

Reconciling items include:

Capital expenditures for the second fiscal quarter are expected to be approximately $180 million. For the second fiscal quarter depreciation is expected to be $51 million and amortization is expected to be $172 million.

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

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