(Corrects company name to 'TriQuint Seminconductor Inc' from
'Semiconductor Inc' in paragraph 2)
* Sees second-quarter rev down 2-5 pct sequentially
* First-quarter adj EPS of $0.65 vs est $0.55
* First-quarter revenue $576 mln vs est $576.2 mln
* Shares up 2 percent after market
By Aurindom Mukherjee
Feb 26 Chipmaker Avago Technologies Ltd
forecast lower-than-expected revenue for the current quarter,
becoming the latest supplier for Apple products to warn of weak
revenue this quarter.
Other suppliers such as Cirrus Logic Inc, TriQuint
Semiconductor Inc and Broadcom Corp have also
forecast weaker-than-expected revenue for the current quarter.
Avago, which designs, develops and supplies analog
semiconductors, sees second-quarter revenue falling 2 to 5
percent compared to the first quarter due to what it called a
product transition at a large original equipment manufacturer
Avago's second-quarter forecast implies revenue of $547.2
million to $564.5 million for the quarter, well below analysts'
average estimate of $583 million, according to Thomson Reuters
RBC Capital Markets analyst Doug Freedman said the large
customer was Apple Inc. "The product (transition) is
the transition of the iPhone 5 production to a
yet-to-be-announced new handset design," he said.
Separately, Avago said its Chief Financial Officer Douglas
Bettinger resigned to pursue another opportunity. Anthony
Maslowski, vice president and corporate controller, will be the
Foxconn Technology Group, Apple Inc's largest
contract manufacturer, accounted for 17 percent of Avago's
revenue in 2012.
In the first quarter, Avago's net income remained unchanged
at $125 million, or 50 cents per share, compared to a year
Excluding one-time items, the company earned 65 cents per
share. Revenue rose 1 percent to $576 million.
Analysts on average expected earnings of 55 cents per share
on revenue of $576.2 million, excluding one-time items.
Shares of the Singapore-based company were trading at $33.31
after the bell on Tuesday. They had closed at $33.13 on the
(Reporting By Aurindom Mukherjee in Bangalore; Editing by Anil
D'Silva and Sreejiraj Eluvangal)