News

Agere Reports Second-Quarter 2004 Results

May 03, 2004 by Jeff Shepard

Agere Systems Inc. (Allentown, PA) 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 $0.08 per share, and the December quarter net loss of $39 million, or $0.02 per share.

The company reported a pro-forma net income of $83 million, or $0.05 per share, compared to a pro-forma net loss of $105 million, or $0.06 per share, in the year-ago quarter, and a pro-forma net income of $22 million, or $0.01 per share, in the December quarter.

The company’s revenues were $462 million, up four percent over the year-ago quarter, and down 10 percent sequentially. The sequential decline was due primarily to the forecasted decrease in sales of third-generation (3G) chipsets for mobile phones related to delays in 3G deployment.