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Tuesday, Feb 26
More on Avago: CFO Douglas Bettinger is resigning to "pursue another opportunity." Controller...
More on Avago: CFO Douglas Bettinger is resigning to "pursue another opportunity." Controller Anthony Maslowski will serve as interim CFO until a successor is found. FQ2 guidance is for a 2%-5% Q/Q revenue drop, below a consensus is for a 1% increase (iPhone order cuts could be a factor). FQ1 gross margin was 50.7%, -40 bps Q/Q and -10 bps Y/Y. Opex +7% Y/Y, higher than revenue growth. Wireless sales +21% Y/Y (lifted by iPhone 5), wired infrastructure -12%, industrial/other -15%. AVGO -0.2% AH. CC at 5PM ET (webcast). (PR)