PLX Technology, Inc. Reports First Quarter 2014 Financial Results

SUNNYVALE, CA -- (Marketwired) -- Apr 21, 2014 -- PLX Technology, Inc. (NASDAQ: PLXT), the global leader in PCI Express® (PCIe®) silicon and software connectivity solutions enabling emerging data center architectures, today announced first quarter revenues of $24.8 million and GAAP net income of $2.2 million, or $0.05 per share (diluted).

"Higher gross profits in the first quarter, combined with lower expenses, drove increased income over Q4 and contributed to our fifth straight profitable quarter," said David Raun, PLX® president and CEO. "In addition, we increased cash, saw strong bookings to support Q2 growth, and layered in another solid quarter of design wins."

                                                                            
Non-GAAP Financial Comparison                                               
(in millions, except per share amounts)                                     
                                                    Quarterly Results       
                                              Q1 2014    Q4 2013    Q1 2013 
                                             ---------  ---------  ---------
Net revenues                                 $    24.8  $    25.7  $    26.2
Gross Margin                                 $    15.0  $    14.3  $    15.5
Operating expense                            $    11.9  $    12.4  $    11.6
Operating income from continuing operations  $     3.1  $     1.9  $     3.9
Income from continuing operations            $     3.0  $     1.9  $     3.8
Income per share (diluted) from continuing                                  
 operations                                  $    0.07  $    0.04  $    0.09
                                                                            

The above non-GAAP financial information (other than net revenues, which are presented on a GAAP basis) excludes share-based compensation, royalty accruals associated with the Internet Machines litigation, acquisition and restructuring costs, and discontinued operations. See "Use of Non-GAAP Financial Information" below.

                                                                            
GAAP Financial Comparison                                                   
(in millions, except per share amounts)                                     
                                                    Quarterly Results       
                                              Q1 2014    Q4 2013    Q1 2013 
                                             ---------  ---------  ---------
Net revenues                                 $    24.8  $    25.7  $    26.2
Gross Margin                                 $    14.8  $    14.1  $    15.5
Operating expense                            $    12.5  $    13.2  $    12.7
Operating income from continuing operations  $     2.3  $     0.8  $     2.9
Income from continuing operations            $     2.2  $     0.8  $     2.7
Income per share (diluted) from continuing                                  
 operations                                        $        0.05    $        0.02    $        0.06
                                                                                                                                                        
 

1 | 2  Next Page »



Review Article Be the first to review this article
HP

Autodesk - DelCAM

Featured Video
Jobs
Principal Research Mechatronics Engineer for Verb Surgical at Mountain View, CA
CAD Systems Administrator for KLA-Tencor at Milpitas, CA
Senior Mechanical Engineer for Verb Surgical at Mountain View, CA
Industrial Designer Intern – Spring 2017 for Nvidia at Santa Clara, CA
Lead Geospatial Analyst for Alion at McLean, VA
Upcoming Events
SOLIDWORKS 2017 Launch Event – Walsall at Village Hotel Club, Walsall, WS2 8TJ Walsall United Kingdom - Mar 30, 2017
PI APPAREL Hong Kong 2017 at SHANGRI-LA KOWLOON 64 Mody Road Tsim Sha Tsui East Kowloon Hong Kong - Apr 5 - 6, 2017
SOLIDWORKS intro and hands on session – Slough at Baylis House, Slough, Berkshire, SL1 3PB Slough United Kingdom - Apr 7, 2017
Engineer 3D! Training + Technology Conference at Hyatt Regency Milwaukee 333 West Kilbourn Avenue Milwaukee WI - Apr 25 - 26, 2017
SolidCAM: Patented Wizard to optimal feeds & speeds
MasterCAM



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise