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NetLogic Reports Q3

MOUNTAIN VIEW, Calif. -- NetLogic Microsystems, Inc. (NASDAQ:NETL - News), the leader in the design and development of knowledge-based processors and high-speed integrated circuits, today announced financial results for its third quarter ended September 30, 2009.

Revenue for the third quarter of 2009 was $42.3 million, a 30.3 percent sequential increase from $32.5 million for the second quarter of 2009 and a 10.4 percent increase from $38.3 million for the third quarter of 2008.

Third quarter 2009 net loss, determined in accordance with generally accepted accounting principles (GAAP), was $3.9 million or $0.17 per diluted share. By comparison, GAAP net income was $1.3 million or $0.06 per diluted share for the third quarter of 2008. GAAP net loss included stock-based compensation expense, the amortization of intangible assets, fair value inventory adjustments, acquisition-related costs, and interest income on a $15.0 million bridge loan to RMI Corporation. Excluding these items, non-GAAP net income for the third quarter of 2009 was $11.0 million or $0.45 per diluted share, compared with $0.42 per diluted share for the third quarter of 2008.

Management Qualitative Comments

“This was another outstanding quarter for NetLogic Microsystems,” said Ron Jankov, president and CEO. “Continued positive trends in the wireless and wireline infrastructure markets, coupled with the early signs of a recovery taking place in the enterprise market resulted in strong demand for our products. During the quarter, we enjoyed the successful launch of several key designs with several of our tier one customers. Additionally, we are very pleased to have just completed our merger with RMI, which greatly expands our addressable market and provides tremendous opportunity for additional growth. This merger comes at a time when both companies are at their strongest competitively and when the market opportunity is ideally matched to our respective product portfolios and technology roadmaps. We are excited to leverage our combined strengths to expand our reach in the market and influence the architectural development of next generation communications infrastructure.”

NetLogic Inc.

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