Economy & Economic Development  December 2, 2015

Avago Technologies posts $1.36B profit for 2015 fiscal year

Semiconductor manufacturer Avago Technologies on Wednesday reported a $1.36 billion profit for its 2015 fiscal year that ended Nov. 1.

The net income amounted to $4.85 per diluted share, up from $263 million, or 99 cents per share, in 2014.

The gains came on $6.8 billion in revenue, an increase of nearly $2.6 billion over the prior year, fueled in part by acquisitions of LSI Corp., PLX Technology and Emulex Corp.

San Jose-based Avago has its largest facility in Fort Collins, where the company employs some 1,300-plus people. The company makes semiconductors for a variety of markets, including wireless devices and enterprise storage devices.

The earnings announcement came after markets closed Wednesday. But Avago shares shot up 7.7 percent in after-hours trading to $142.35 after the news.

Avago logged net income of $429 million, or $1.49 per share, in the fourth quarter, up from $240 million, or 84 cents per share, a year earlier. Revenue climbed from $1.59 billion a year earlier to $1.84 billion for the fourth quarter of the 2015 fiscal year.

The company projects revenue for the first quarter of fiscal year 2016 of nearly $1.8 billion.

Semiconductor manufacturer Avago Technologies on Wednesday reported a $1.36 billion profit for its 2015 fiscal year that ended Nov. 1.

The net income amounted to $4.85 per diluted share, up from $263 million, or 99 cents per share, in 2014.

The gains came on $6.8 billion in revenue, an increase of nearly $2.6 billion over the prior year, fueled in part by acquisitions of LSI Corp., PLX Technology and Emulex Corp.

San Jose-based Avago has its largest facility in Fort Collins, where the company employs some 1,300-plus people. The company makes semiconductors for a variety of markets, including wireless devices and enterprise storage…

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