Irvine-based Broadcom Corporation reported unaudited results for its second quarter ended June 30, 2009. Broadcom is a major technology innovator and a leading chip maker for wired and wire less communications.

The company’s net revenue for the second quarter of 2009 was $1.04 billion, an increase in net revenue of 21.9 percent compared to the $853.4 million for the first quarter of 2009, but a decrease of 13.4 percent from the $1.201 billion reported for the same period a year ago. The net revenue beat the analysts who were expected $982 million on average.

Broadcom’s net income for the second quarter includes a charitable contribution expense of $50 million and a $65 million gain from a recent legal settlement with San Diego-based Qualcomm Inc. It was announced in April that both companies were entering into a settlement and multi-year patent agreement. As per the agreement, Qualcomm would pay Broadcom $891.2 million over a four-year period. Thus, in connection with the agreement, Broadcom received a $65.3 million on settlement last quarter and $67.3 million in royalties from Qualcomm.

“Despite the continued global economic uncertainty, Broadcom’s results for the second quarter reflected a return to a more stable ordering pattern and the ramp of new products from our end customers,” said Scott A. McGregor, Broadcom’s President and Chief Executive Officer. “In the second quarter, Broadcom generated strong sequential revenue growth, with product revenue near the top end of the range provided in April. We are pleased that research and development and selling, general and administrative expenses once again increased less than anticipated from the first quarter of 2009, reflecting our continued focus on maintaining solid financial discipline. In addition, we generated strong cash flow in excess of $325 million from operations,” he added.

“Our operating strategy for 2009 remains focused on managing our business to gain share and generate positive quarterly cash flow from operations. Based upon the customer activity we have experienced to date we anticipate that future revenue growth will be broad based with slightly stronger growth within our mobile and wireless targeted end market, driven by new product ramps and the upcoming holiday season,” McGregor continued.

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