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EXCEL - IDEA: XBRL DOCUMENT - Avago Technologies LTD | Financial_Report.xls |
10-Q - FORM 10-Q - Avago Technologies LTD | f58704e10vq.htm |
EX-10.3 - EX-10.3 - Avago Technologies LTD | f58704exv10w3.htm |
EX-10.2 - EX-10.2 - Avago Technologies LTD | f58704exv10w2.htm |
EX-32.2 - EX-32.2 - Avago Technologies LTD | f58704exv32w2.htm |
EX-32.1 - EX-32.1 - Avago Technologies LTD | f58704exv32w1.htm |
EX-31.1 - EX-31.1 - Avago Technologies LTD | f58704exv31w1.htm |
EX-31.2 - EX-31.2 - Avago Technologies LTD | f58704exv31w2.htm |
EX-10.4 - EX-10.4 - Avago Technologies LTD | f58704exv10w4.htm |
Exhibit 99.1
Avago Technologies Announces Dividend and
Authorization for Share Repurchase Program
Authorization for Share Repurchase Program
SAN JOSE, Calif. and SINGAPORE June 9, 2011 Avago Technologies Limited (Nasdaq: AVGO), a
leading supplier of analog interface components for communications, industrial and consumer
applications, today announced that its Board of Directors has approved a quarterly interim cash
dividend of $0.09 per ordinary share and has authorized the repurchase of up to 15 million of the
Companys ordinary shares, not to exceed $500 million of its shares in the aggregate.
The dividend is payable on June 30, 2011 to shareholders of record at the close of business
(5:00p.m.) Eastern Time on June 17, 2011.
The authorization of the share repurchase program was made pursuant to the share purchase mandate
approved by the Companys shareholders at its 2011 annual general meeting, which authorizes the
repurchase by the Company of up to 10% of its outstanding ordinary shares prior to the date of the
Companys 2012 annual general meeting. Share repurchases, if any, will be made in the open market
at such times and in such amounts as the Company deems appropriate. The Company intends to effect
any share purchases in compliance with Securities and Exchange Commission Rule 10b-18 or pursuant
to a trading plan adopted pursuant to Rule 10b5-1. The timing and actual number of shares
repurchased will depend on a variety of factors including price, market conditions and applicable
legal requirements. The share repurchase program does not obligate the Company to repurchase any
specific number of shares and may be suspended or terminated at any time without prior notice.
About Avago Technologies Limited
Avago Technologies Limited is a leading designer, developer and global supplier of a broad range of
analog semiconductor devices with a focus on III-V based products. Our product portfolio is
extensive and includes over 6,500 products in four primary target markets: wireless communications,
wired infrastructure, industrial and automotive electronics, and consumer and computing
peripherals.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements which address our expected future business
and financial performance, including statements regarding Avagos plans and expectations with
respect to its share repurchase program. These forward-looking statements are based on current
expectations, estimates, forecasts and projections of future Company or industry performance, based
on managements judgment, beliefs, current trends and market conditions, and involve risks and
uncertainties that may cause actual results to differ materially from those contained in the
forward-looking statements. Accordingly, we caution you not to place undue reliance on these
statements. For Avago, particular uncertainties that could materially affect future results, and
therefore our ability to pay dividends, whether or not we will complete our share repurchase
program during any particular time frame or at all and whether our cash and short term investments
will be sufficient to fund our share repurchase program, include cyclicality in the semiconductor
industry or in our target markets and general economic conditions; quarterly and annual
fluctuations in operating results; our competitive performance
and ability to continue achieving design wins with our customers; our ability to generate cash
sufficient to fund our research and development, capital expenditures and other business needs; our
increased dependence on outsourced service providers for certain key business services and their
ability to execute to our requirements; our dependence on contract manufacturing and outsourced
supply chain; loss of our significant customers; our ability to maintain tax concessions in certain
jurisdictions; our ability to protect our intellectual property and any associated increases in
litigation expenses; any expenses associated with resolving customer product and warranty and
indemnification claims; costs associated with and our ability to achieve the growth prospects and
synergies expected from our acquisitions; delays and challenges associated with integrating
acquired companies with our existing businesses; our ability to improve our cost structure through
our manufacturing outsourcing program; and other events and trends on a national, regional and
global scale, including those of a political, economic, business, competitive and regulatory
nature. Our Quarterly Report on Form 10-Q filed on March 10, 2011 and other filings with the
Securities and Exchange Commission, or SEC (which you may obtain for free at the SECs website at
http://www.sec.gov) discuss some of the important risk factors that may affect our business,
results of operations and financial condition. We undertake no intent or obligation to publicly
update or revise any of these forward looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
###
Contacts:
Avago Technologies Limited
Jacob Sayer, +1-408-435-7400
VP Business Development and IR
investor.relations@avagotech.com
Avago Technologies Limited
Jacob Sayer, +1-408-435-7400
VP Business Development and IR
investor.relations@avagotech.com