Avago turns in $344 million quarterly profit

Avago Technologies, which earlier in the day announced the $37 billion acquisition of rival chipmaker Broadcom, reported quarterly net income of $344 million on Thursday.

The financial results covered the company’s second fiscal quarter ending May 3.

Avago, which employs about 1,300 people in Fort Collins and has a Longmont office as well, also reported $1.6 billion in revenue, down slightly from the previous quarter but up 130 percent over a year earlier thanks in large part to the acquisitions of LSI Corp. and PLX Technology.

The net income came out to $1.21 per diluted share, down 5 cents from a quarter earlier…