SANTA CLARA, CA -- Inphi Corporation (NYSE: IPHI - News), a leading provider of high-speed analog semiconductor solutions for the communications and computing markets, today announced financial results for its second quarter ended June 30, 2011.

Revenue for the second quarter of 2011 was $24.0 million, compared with $21.1 million for the second quarter of 2010.

As reported under U.S. generally accepted accounting principles (GAAP), net income for the second quarter of 2011 was $2.4 million, or $0.08 per diluted common share, compared with GAAP net income of $7.6 million, or $0.14 per diluted common share, for the second quarter of 2010. GAAP net income and earnings per share for 2010 reflect in part a large income tax benefit recorded in 2010 related to the release and reversal of valuation allowances against deferred tax assets provided in previous periods.

Gross margin on a GAAP basis for the second quarter of 2011 was 64.8% of revenue, compared with 65.2% of revenue for the second quarter of 2010.

Inphi Corp.