Broadcom’s Nicholas Wins National Award

Henry T. Nicholas III, the chief executive of Irvine-based Broadcom Corp., was named the nation’s top technology executive at the 1999 National Ernst & Young Entrepreneur of the Year awards ceremony.

Nicholas, 40, picked up the award Saturday in Palm Springs, where he edged out nearly 500 other regional winners. According to judges, Nicholas has been a key reason why chip-maker Broadcom has done so well. He and Broadcom co-founder Henry Samueli are worth $3.25 billion each.

In October, Broadcom reported third-quarter financial results that put it on track to become the fastest-growing chip maker in history. The company said third-quarter profit soared fivefold as sales more than doubled. Broadcom’s revenues have gone from about $4 million five years ago, to a projected nearly $400 million this year.

The company’s stock has also boomed, soaring on consumer demand for sophisticated data communications devices, such as cellular phones and high-speed networks for accessing the Internet at work and at home. Broadcom shares fell $7.25 on Monday, to $173.06, but are up nearly 300% over the past 12 months.