Agere Systems Inc (1129446) SEC Filing 10-K Annual report for the fiscal year ending Saturday, September 30, 2006

Agere Systems Inc

CIK: 1129446

Exhibit 99.1
news release
Media Inquiries
  Investor Inquiries
Robert Guenther
  Sujal Shah
610-712-1514 (office)
  610-712-5471 (office)
     ALLENTOWN, Pa. — Agere Systems (NYSE: AGR) today reported GAAP net income of $20 million, or $0.12 per share, for the fiscal year ended September 30, 2006, compared to a GAAP net loss of $8 million, or $0.04 per share, for fiscal 2005. The results represent the first fiscal year that Agere has been profitable on a GAAP basis.
     Richard Clemmer, President and CEO of Agere, said, “Our results for fiscal 2006 mark Agere’s first full-year profit as a public company. This milestone in financial performance demonstrates that we are executing on our turnaround strategy. With our first profitable year behind us, we have established a firm foundation for Agere’s future growth.”
     For the fourth quarter ended September 30, 2006, Agere reported GAAP net income of $13 million, or $0.08 per share, nearly double the net income of $7 million, or $0.04 per share, in the same period of 2005.
     For the full fiscal year of 2006, Agere’s non-GAAP* net income was $121 million, or $0.69 per share, compared to $72 million, or $0.41 per share, for fiscal 2005. On a non-GAAP basis, Agere’s fourth quarter of fiscal 2006 net income was $51 million, or $0.30 per share, versus $38 million, or $0.21 per share, in the year ago period.
     The following chart shows quarterly and annual revenue, including revenue from the licensing of intellectual property, by business segment:

The following information was filed by Agere Systems Inc on Tuesday, October 31, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Agere Systems Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2006 10-K Annual Report includes:

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