Light Reading

AMCC Loses $72M in Q3

Light Reading
News Wire Feed
Light Reading
1/31/2013
50%
50%

SUNNYVALE, Calif. -- Applied Micro Circuits Corporation (Nasdaq:AMCC) ("AppliedMicro" or the "Company") today reported its financial results for the third quarter of fiscal 2013, ended December 31, 2012.

  • Q3 FY2013 net revenues were $51.7 million, up approximately 12% sequentially and down approximately 8% year over year.
  • Q3 FY2013 non-GAAP EPS was $(0.10) per share on net loss of $6.9 million, compared to $(0.16) per share on a net loss of $10.5 million, for the second quarter of fiscal 2013.
  • Q3 FY2013 GAAP net loss was $71.6 million or $(1.08) per share compared to net loss of $21.6 million or $(0.33) per share for the second quarter of fiscal 2013.
  • Total cash, cash equivalents and short-term investments was approximately $84 million as of December 31, 2012 compared to $90 million as of September 30, 2012.
  • During the quarter, the Company taped out its ARM 64-bit X-Gene processor chip in 40nm. In mid-January 2013, the Company also taped-out a 28nm test chip version of the X-Gene chip which incorporated several other features in addition to the geometry shrink.
  • The performance simulations of AppliedMicro's ARM 64-Bit X-Gene processor have significantly exceeded the Company's expectations and resulted in an increase in the range of its estimated milestone-based payments under the Veloce merger agreement. The purchase price is now estimated to be in the range of $117 to $178.5 million, depending upon the achievement of multiple product development cycles and technical performance results. Net revenues for the third quarter of fiscal 2013 were $51.7 million compared to $46.3 million in the second quarter of fiscal 2013, representing a sequential quarterly increase of 11.6% and a decrease of 8.3% over the $56.3 million in net revenues reported in the third quarter of fiscal 2012. Net revenues for the first nine months of fiscal 2013 were $139.3 million, compared to $182.1 million for the same period last year, representing a decrease of 23.5%. The net loss on a generally accepted accounting principles (GAAP) basis for the third quarter and for the first nine months of fiscal 2013 were $71.6 million and $116.5 million, or $(1.08) and $(1.81) per share, respectively. This included an accrual of $51.9 million for the Veloce acquisition in the quarter. This compares with a GAAP net loss of $7.1 million, or $(0.12) per share, and net loss of $15.1 million, or $(0.24) per share, for the third quarter and first nine months of fiscal 2012, respectively. Non-GAAP loss for the third quarter and the first nine months of fiscal 2013 was $6.9 million or $(0.10) per share and $28.9 million or $(0.45) per share, respectively, compared to non-GAAP loss of $1.1 million or $(0.02) per share and non-GAAP net income of $0.6 million or $0.01 per diluted share for the third quarter and first nine months of fiscal 2012, respectively. "In the third quarter we believe we made giant strides in our product development efforts by taping out our 40nm ARM 64-Bit X-Gene server on a chip. We also taped out a test chip for our upcoming 28nm product in January. While we await final benchmarks from the actual silicon, the results from highly correlated simulations indicate that the 40nm chip performance may far exceed our original expectations. In fact, we believe the networking performance of the chip suggests that we may be able to further penetrate into Enterprise class solutions. I am also very pleased with the improvements in our base business, reflected in continued quarter over quarter revenue growth," said Dr. Paramesh Gopi, President and Chief Executive Officer. Applied Micro Circuits Corp.
    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    Flash Poll
    From The Founder
    Ericsson's Hyperscale Datacenter System (HDS) 8000, featuring Intel's Rack Scale Architecture, caused a stir when it was announced at MWC 2015. For more on this revolutionary product, join me on Thursday, April 30 at 12:00 p.m. EST for a Super Webinar event, A New Hardware Paradigm for the Telco Data Center.
    LRTV Documentaries
    CableLabs' Clarke Updates Cable Virtualization

    4|23|15   |   05:41   |   (1) comment


    Former BT exec now leading CableLabs' NFV and SDN efforts explains key role of open source and updates efforts to virtualize the home network.
    LRTV Interviews
    Ericsson's CTO Talks Transformation: Pt. II

    4|23|15   |   08:19   |   (1) comment


    In the second installment of an in-depth two-part interview, Ericsson's CTO Ulf Ewaldsson talks to Light Reading CEO and founder Steve Saunders about cultural change, network slicing and technology advances.
    LRTV Interviews
    Ericsson's CTO Talks Transformation: Pt. I

    4|23|15   |   09:27   |   (3) comments


    In the first installment of an in-depth two-part interview, Ericsson's CTO Ulf Ewaldsson talks to Light Reading CEO and founder Steve Saunders about the incredible transformation underway in the communications networking industry.
    LRTV Documentaries
    LTE Paves the Way for the 5G Revolution

    4|20|15   |   4:20   |   (0) comments


    Håkan Andersson, head of 5G product strategy of the Radio Business Unit at Ericsson, discusses the role of LTE, the US and other industry verticals in building a true 5G ecosystem.
    LRTV Documentaries
    The 3GPP's Road to 5G Standardization

    4|17|15   |   4:43   |   (0) comments


    Satoshi Nagata, chairman of the 3GPP's TSG-RAN group and a manager at NTT Docomo, explains the standardization process for 5G, as well as the biggest challenges and opportunities.
    LRTV Documentaries
    AlcaLu CTO Makes the Case for a New 5G Air Interface

    4|16|15   |   3:54   |   (0) comments


    Michael Peeters, CTO of wireless at Alcatel-Lucent, explains why 5G will require a new air interface to meet its diverse performance targets.
    LRTV Documentaries
    AlcaLu + Nokia: The New Uber-Vendor

    4|15|15   |   2:42   |   (4) comments


    Heavy Reading Senior Analyst Gabriel Brown discusses the technological and competitive opportunities and challenges if a merger between Alcatel-Lucent and Nokia comes to pass.
    LRTV Huawei Video Resource Center
    Huawei's Data Center Power Play

    4|15|15   |   6:22   |   (0) comments


    Huawei has developed industry-leading energy efficiency capabilities for its indoor and outdoor data center solutions, explains Dr. Fang Liangzhou, vice president of Huawei's Network Energy product Line.
    LRTV Huawei Video Resource Center
    Huawei’s Routers, Switches Get the Green Mark

    4|15|15   |   2:02   |   (0) comments


    TUV Rheinland's Frank Dudley explains how Huawei's routers and switches have been successfully tested by energy efficiency experts and have gained Green Mark Certification.
    LRTV Documentaries
    A Finn, a Frenchman & a Guy From New Jersey Walk Into a Merger...

    4|15|15   |   3:17   |   (0) comments


    Stop us if you've heard this one before... Light Reading CEO Founder & CEO Steve Saunders weighs in on the technical and cultural implications of a Nokia and Alcatel-Lucent merger.
    LRTV Huawei Video Resource Center
    Accounting for Better Solutions

    4|10|15   |   02:31   |   (1) comment


    Murad Yousuf, CTO at Saudi Arabia's Ministry of Finance (Dept. of Zakat & Income Tax), talks about the benefits of deploying router technology from Huawei.
    LRTV Huawei Video Resource Center
    What's in Store for Huawei & DataCore?

    4|10|15   |   05:44   |   (0) comments


    At the CeBIT trade show in Hannover, Germany, George Teixeira, CEO of software-defined storage (SDS) specialist DataCore Software, explains why he has just signed a partnership agreement with Huawei Technologies.
    Upcoming Live Events
    May 6, 2015, Georgia World Congress, Atlanta, GA
    May 12, 2015, Grand Hyatt, Denver, CO
    May 13-14, 2015, The Westin Peachtree, Atlanta, GA
    June 8, 2015, Chicago, IL
    June 9-10, 2015, Chicago, IL
    June 9, 2015, Chicago, IL
    June 10, 2015, Chicago, IL
    September 29-30, 2015, The Westin Grand Müchen, Munich, Germany
    October 6, 2015, Westin Peachtree Plaza, Atlanta, GA
    November 11-12, 2015, The Westin Peachtree Plaza, Atlanta, GA
    All Upcoming Live Events
    Infographics
    In its latest survey covering network operators' plans and strategies for ICT transformation, Heavy Reading asked telecom operators worldwide to identify the most important goals and objectives for their ICT transformation initiatives. Heavy Reading also asked operators about the importance of a "digital first" strategy, which enables customers to complete an interaction across different digital channels, such as web and mobile self-service and social media.
    Hot Topics
    Comcast Formally Ends Its Bid for TWC
    Mari Silbey, Independent Technology Editor, 4/24/2015
    What if the Comcast Merger Fails?
    Mari Silbey, Independent Technology Editor, 4/20/2015
    Google's WiFi-First Mobile Service 'Fi' Is Here
    Dan Jones, Mobile Editor, 4/22/2015
    Comcast Merger May Hinge on Hulu
    Mari Silbey, Independent Technology Editor, 4/22/2015
    Google Ready to Release Thousands of Loons
    Sarah Thomas, Editorial Operations Director, 4/20/2015
    Like Us on Facebook
    Twitter Feed
    Webinar Archive
    BETWEEN THE CEOs - Executive Interviews
    Many leading communications companies can claim to have undergone significant periods of reinvention during their histories, but none have been through more major ...
    Data Center Interconnect, or DCI, is one of the hottest sectors in telecom currently. Since coming back to Light Reading last year, prodigal-son style, I've ...
    Cats with Phones
    Learning Curve Click Here
    Pierre could never remember how to use Excel.
    Latest Comment