Light Reading
Q3 2013 net revenues were $51.7M, up approximately 12% sequentially and down approximately 8% year over year

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
    Flash Poll
    LRTV Custom TV
    A New Security Paradigm in SDN/NFV

    7|28|14   |   02:54   |   (0) comments


    Paul Shaneck, Global Director Network Solutions for Symantec, discusses the evolving virtualized network, explaining how Symantec is leading the security discussion as it relates to SDN and NFV, and helping to ensure the network is protected and compliant.
    LRTV Documentaries
    Sprint's Network Evolution

    7|24|14   |   14:59   |   (0) comments


    Sprint's Jay Bluhm gives a keynote speech at the Big Telecom Event (BTE) about Sprint's network and services evolution strategy, including Spark.
    LRTV Documentaries
    BTE Keynote: The Software-Defined Operator

    7|24|14   |   18:43   |   (1) comment


    Deutsche Telekom's Axel Clauberg explains the concept of the software-defined operator to the Big Telecom Event (BTE) crowd.
    Light Reedy
    Numbers Are In: LR's 2014 Salary Survey

    7|24|14   |   1:25   |   (7) comments


    Our fourth annual Salary Survey paints a picture of who's hiring, firing, earning, and yearning for a change in the telecom industry.
    LRTV Custom TV
    Driving the Network Transformation

    7|23|14   |   4:29   |   (0) comments


    Intel's Sandra Rivera discusses network transformation and how Intel technologies, programs, and standards body efforts have helped the industry migration to SDN and NFV.
    LRTV Custom TV
    Distributed NFV-Based Business Services by RAD

    7|18|14   |   5:38   |   (0) comments


    With the ETSI-approved Distributed NFV PoC running in the background, RAD's CEO, Dror Bin, talks about why D-NFV makes compelling sense for service providers, and about the dollars and cents RAD is putting behind D-NFV.
    LRTV Custom TV
    MRV – Accelerating Packet Optical Convergence

    7|15|14   |   6:06   |   (0) comments


    Giving you network insight to make your network smarter.
    LRTV Custom TV
    NFV-Enabled Ethernet for Generating New Revenues

    7|15|14   |   5:49   |   (0) comments


    Cyan's Planet Orchestrate allows service providers and their end-customers to activate software-based capabilities such as firewalls and encryption on top of existing Ethernet services in just minutes.
    LRTV Custom TV
    Symkloud NVF-Ready Video Transcoding, Big Data

    7|9|14   |   3:41   |   (0) comments


    Kontron and ISV partner Vantrix demonstrate high-performance video transcoding and data analytic solutions on same 2U standard platform that is ready for SDN and NFV deployments made by mobile, cable and cloud operators.
    LRTV Huawei Video Resource Center
    The Evolving Role of Hybrid Video for Competitive Success

    7|4|14   |   4:09   |   (0) comments


    At Huawei's Global Analysts Summit in Shenzhen, China, Steven C. Hawley from TV Strategies speaks to us about the evolving role of hybrid video for competitive success.
    LRTV Huawei Video Resource Center
    How CSPs Leverage Big Data in the Digital Economy

    7|4|14   |   4:48   |   (2) comments


    Justin van der Lande from Analysys Mason shares with us his views on how telecom operators can leverage customer asset monetization with big data. His discusses the current status of big data applications and the challenges and opportunities for telecom operators in the digital economy era.
    LRTV Huawei Video Resource Center
    Accelerator for Digital Business – Future Oriented BSS

    7|4|14   |   3:08   |   (0) comments


    Mobile and internet are becoming intertwined; IT and CT are integrating; and leading CSPs have begun to transform to information service and entertainment providers. How should the BSS system evolve to enable this transformation? Karl Whitelock, an analyst at Frost & Sullivan, shares his views.
    Upcoming Live Events!!
    September 16, 2014, Santa Clara, CA
    September 16, 2014, Santa Clara, CA
    October 29, 2014, New York City
    November 6, 2014, Santa Clara
    November 11, 2014, Atlanta, GA
    December 9-10, 2014, Reykjavik, Iceland
    Infographics
    Packet Design asks network professionals how they handle the cloud, SDN, and network management.
    Today's Cartoon
    Vacation Special Caption Competition Click Here
    Latest Comment
    Hot Topics
    Is Windstream Boldly Setting a New Trend?
    Carol Wilson, Editor-at-large, 7/29/2014
    U-verse Growth Slips But Still Strong
    Alan Breznick, Cable/Video Practice Leader, 7/24/2014
    Facebook: 30% of Users Are Mobile-Only
    Mitch Wagner, West Coast Bureau Chief, Light Reading, 7/24/2014
    Verizon Applies 3G Throttling Policy to LTE
    Sarah Reedy, Senior Editor, 7/25/2014
    If Not Muni Networks, Then What?
    Carol Wilson, Editor-at-large, 7/28/2014
    Like Us on Facebook
    Twitter Feed