Broadcom Posts 1st-Quarter Results In Line With Reduced Estimates http://www.dj.com/http://www.dj.com/Wednesday, April 18, 2001 05:03 PM ET IRVINE, Calif. -- Broadcom Corp (BRCM, news). reported a sharp drop in first-quarter earnings from operations because of weak orders and said it hasn't seen any improvement since it issued a gloomy outlook last month. The communications-chip maker late Wednesday reported a net loss of $356.9 million, or $1.43 a share, compared with net income of $38.6 …
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…that it would post first-quarter earnings below analysts' estimates at that time, citing a "significant slowdown" in orders and said one of its largest customers, 3Com Corp., had terminated a significant contract on Feb. 28. Company executives had said the company lowered its guidance after it began to see a "significant level of customer order delays and pushouts." In 4 p.m. EDT trading on the Nasdaq Stock Market, Broadcom (BRCM) was up $ 4.61, or 16%, to $34.01. ------------------------------------------------------------------------ **Bibliography**