LSI Logic Reports Strong Q2 Revenue and Profit Growth

Second Quarter News Release Summary

  • Revenues of $481 million, up 7 percent sequentially.
  • Revenues up 7 percent compared to Q2 2004.
  • GAAP* net income of 6 cents per diluted share, compared to 2 cents in Q2 2004.
  • Net income, excluding special items**, of 11 cents per diluted share, compared to 7 cents in Q2 2004.
  • Gross margin expands to 44 percent.
  • Generated positive operating cash flow for 13th consecutive quarter.
  • Projected revenue of $470 million to $500 million.
  • GAAP* net income range of 5 - 7 cents per diluted share.
  • Net income, excluding special items**, in the range of 10 - 12 cents per diluted share.
    • ** Acquisition-related amortization, restructuring and other special items.

    Storage Components and Storage Systems Lead LSI Logic Q2 Revenue Growth

    GAAP* Excluding Special Items Revenues
    43-44 percent 43-44 percent Operating Expenses Approximately $19 million**
    $(2) to $(3) million $(2) to $(3) million Tax Provision
    $0.05 to $0.07 $0.10 to $0.12 Diluted Share Count

    Capital spending is projected to be around $20 million in the third quarter, and approximately $60 million in total for 2005.

    Third quarter depreciation and software amortization is expected to be approximately $23 million.

    * Generally Accepted Accounting Principles

    LSI Logic Conference Call Information

    Safe Harbor for Forward-Looking Statements

    About LSI Logic