Agere Systems Q2 Results - lower satellite radio shipments

Monday, August 28, 2006

Agere makes the chipsets for at least some of SIRIUS' radios. They released their quarterly report on Aug 10, here are some exerpts. Agere makes lots of chips and chipsets, mainly related to telecom applications.

Three months ended June 30
2006 2005 change % change
$105 $125 $ (20) (16)%

Nine months ended June 30
2006 2005 change %change
$290 $324 $(34) (10)%

"In Mobility, product revenue was $97 million for the third quarter, a decrease of $17 million from the prior year, and $266 million for the nine months ended June 30, 2006, a $29 million decrease from the nine months ended June 30, 2005. The decrease in product revenue for the current quarter is mainly due to price declines across most applications and lower volume in chipsets for satellite radio receivers. The decrease in product revenue for the nine months ended June 30, 2006, resulted primarily from $36 million lower sales of 3G custom chipsets the customer has discontinued and price declines across most applications. The decreases in both the three and nine month periods were partially offset by increases in shipments of products based on the 2.5G standard. Revenue from the licensing of intellectual property was $8 million for the third quarter, a decrease of $3 million from the prior year and $24 million for the nine months ended June 30, 2006, a decrease of $5 million for the nine months ended June 30, 2005."

Another bit of Agere news from early June - "Agere Systems (NYSE:
AGR) today announced that it will provide a new, advanced system-on-a-chip
(SoC) chip set to manufacturers of SIRIUS radios. Agere's announcement
coincides with next week's Computex conference and exhibition in Taiwan
(Agere Booth T101A2)." - link.

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