Agere Reports Revenue of $439 million

Agere Systems reported quarterly revenue of $439 million, at the high end of the guidance range provided by the company in July. The company's revenues were $495 million in the June quarter and $504 million in the year-ago quarter. GAAP net loss for the quarter was $127 million or $0.07 per share, including $132 million in net restructuring and other charges. Agere reported a GAAP net income of $2 million or breakeven per share in the June quarter, and a GAAP net income of $11 million or $0.01 per share in the year-ago quarter.



"We are encouraged by the progress we have made over the last year: we increased revenues and gross margin, improved our bottom-line performance, and strengthened our cash position," said John Dickson, president and CEO, Agere Systems. http://www.agere.com