* Sees fourth-qtr revenue $721 mln-$740.5 mln vs est $696.3
* Third-qtr adj earnings/share $0.67 vs est $0.62
* Third-qtr revenue rises 6 pct to $644 mln vs est $623 mln
* Shares up 7 pct after market
By Aurindom Mukherjee and Neha Alawadhi
Aug 27 Avago Technologies Ltd, whose
chips are used in Apple Inc's products, forecast strong
growth for the current quarter ahead of the launch of the new
The company's wireless business is likely to be boosted by
the launch of new smartphones by its two largest customers,
Chief Executive Hock Tan said in a post-earnings conference
Foxconn Technology Group, a contract manufacturer for Apple,
accounted for 17 percent of Avago's revenue last year.
Apple is expected to launch its next smartphone at a special
event on Sept. 10, according to technology blog AllThingsD.
Avago, whose wireless business accounted for 45 percent of
its total revenue last year, also counts Samsung Electronics Co
Ltd, LG Electronics Inc and Huawei
Technologies Co Ltd among its major customers.
The company, which designs, develops and supplies analog
semiconductors, said fourth-quarter revenue is likely to rise by
12 to 15 percent from the third quarter, implying sales of
$721.0 million to $740.5 million. Analysts were expecting $696.3
million on average, according to Thomson Reuters I/B/E/S.
Wireless revenue growth would be in the mid teens, company
officials said on a conference call.
Avago shares rose 7 percent to $39.00 in extended trading.
Avago, which posted declining sales for the last three
quarters, reported third-quarter revenue of $644 million, above
analysts' estimates of $623 million.
Net income fell to $142 million, or 56 cents per share, in
the quarter from $145 million, or 58 cents per share, a year
Excluding restructuring charges, acquisition-related costs
and other one-time expenses, it earned 67 cents per share,
according to Thomson Reuters I/B/E/S. Analysts had expected
earnings of 62 cents per share.