Exhibit 99.1
Media Contact:
  Investor Contact:
JoAnna Schooler
  Sujal Shah
610-712-1746 (office)
  610-712-5471 (office)
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— Revenues grow sequentially with a GAAP gross margin of 43 percent and a 52 percent pro forma gross margin
— Company posts GAAP net income of $0.66 per share, including a $120 million tax benefit, and pro forma net income of $0.24 per share
— Closure of the company’s Orlando silicon wafer manufacturing facility to be completed by Sept. 30, 2005
     ALLENTOWN, Pa. — Agere Systems (NYSE: AGR) today reported that revenues for the third quarter of fiscal 2005, ended June 30, were $433 million, at the high end of the guidance range provided by the company in April. The company’s revenues have grown from $417 million in the March quarter and $410 million in the December quarter.
     The company reported GAAP gross profit of $185 million or 43 percent of revenue, GAAP operating income of $3 million or 1 percent of revenue and GAAP net income of $120 million or $0.66 per share. GAAP net income includes a $120 million benefit resulting from the reversal of a tax contingency and $38 million in restructuring related costs included in gross profit — primarily additional depreciation related to the planned closure of the Orlando facility. It also includes $8 million in net restructuring and other non-recurring charges, $1 million of amortization of acquired intangible assets and a $4 million gain on the sale of operating assets. In the March quarter, Agere reported GAAP gross margins of 37 percent, a GAAP operating loss of $79 million and a GAAP net loss of $68 million, or $0.38 per share. The GAAP net loss in the March quarter included purchased in-process R&D charges of $55 million related to the acquisition of Modem-Art, Ltd., $33 million in net restructuring charges and related costs, and a $22 million benefit resulting from the reversal of a tax contingency. All per-share amounts reflect the 1-for-10 reverse stock split and share reclassification that the company completed on May 27, 2005.


The following information was filed by Agere Systems Inc on Tuesday, July 26, 2005 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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