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LSI Reports Earnings

MILPITAS, Calif. -- LSI Logic Corporation (NYSE: LSI - News) today reported fourth quarter 2006 revenues of $524 million, a 3% increase year-over-year compared to the $506 million reported in the fourth quarter of 2005, and up 6% sequentially compared to the $493 million reported in the third quarter of 2006.

Fourth quarter 2006 GAAP* net income was $59 million or 14 cents per diluted share, compared to fourth quarter 2005 GAAP net income of $38 million or 9 cents per diluted share. Fourth quarter 2006 GAAP results compare to third quarter 2006 GAAP net income of $44 million or 11 cents per diluted share. Fourth quarter 2006 GAAP net income included $10.9 million of stock- based compensation expense and a net charge of $5.2 million from special items, acquisition-related amortization, restructuring and their related tax effect.

LSI Logic Corp.