EZchip Reports Q4 Profit of $5M
YOKNEAM, Israel -- EZchip Semiconductor Ltd. (NASDAQ: EZCH), a leader in Ethernet network processors, today announced its results for the fourth quarter and full year ended December 31, 2012. Total revenues in the fourth quarter of 2012 were $15.2 million, an increase of 7% compared to $14.3 million in the fourth quarter of 2011, and an increase of 64% compared to $9.3 million in the third quarter of 2012. Net income, on a GAAP basis, for the fourth quarter of 2012 was $4.8 million, or $0.17 per share (diluted), compared to net loss of $6.0 million, which included a one-time charge due to early repayment of $9.9 million to the Israeli Office of Chief Scientist (OCS), or $0.22 per share, in the fourth quarter of 2011, and net income of $0.1 million, or $0.00 per share (diluted), in the third quarter of 2012. EZchip Technologies Ltd.