SANTA CLARA, Calif. -- Inphi Corporation (NYSE: IPHI), a leading provider of high-speed analog semiconductor solutions for the communications and computing markets, today announced results for its fourth quarter and full year ended December 31, 2012.
Revenue for the fourth quarter of 2012 was $22.9 million, compared with $17.3 million for the fourth quarter of 2011.
As reported under U.S. generally accepted accounting principles (GAAP), fourth quarter 2012 net loss was $16.6 million, or ($0.58) per share, compared with a GAAP net loss of $0.3 million, or ($0.01) per diluted common share, for the fourth quarter of 2011.
Inphi established a full valuation allowance against its net deferred tax assets, which resulted in a one-time, non-cash charge of $14.6 million in the fourth quarter of 2012. The decision to establish the valuation allowance was based on an assessment made at year-end that considered factors such as passage of new California tax law as well as projected taxable income. The establishment of a valuation allowance does not preclude Inphi from using its loss- carryforward, research and development tax credits and other deferred tax assets in the future.