Applied Micro Circuits Corporation Reports Second Quarter Fiscal 2017 Financial Results

 

APPLIED MICRO CIRCUITS CORPORATION  
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  
(in thousands, except per share data)  
(unaudited) 
        
  Three Months Ended  Six Months Ended 
  September 30,
2016
  June 30,
2016
  September 30,
2015
  September 30,
2016
  September 30,
2015
 
Net revenues$41,779  $41,498  $39,743  $83,277  $77,556  
Cost of revenues 14,119   16,029   17,758   30,148   34,564  
Gross profit 27,660   25,469   21,985   53,129   42,992  
Operating expenses:          
Research and development 24,037   27,485   22,411   51,522   44,028  
Selling, general and administrative 8,342   8,699   8,373   17,041   17,137  
Restructuring -   -   15   -   111  
Total operating expenses 32,379   36,184   30,799   68,563   61,276   
Operating loss   (4,719 )     (10,715 )     (8,814 )     (15,434 )     (18,284 )  
Interest and other income, net   257       247       265       504       1,909    
Loss before income taxes   (4,462 )     (10,468 )     (8,549 )     (14,930 )     (16,375 )  
Income tax provision (benefit)   178       71       (488 )     249       (910 )  
Net loss $ (4,640 )   $ (10,539 )   $ (8,061 )   $ (15,179 )   $ (15,465 )  
Basic and diluted net loss per share: $ (0.05 )   $ (0.12 )   $ (0.10 )   $ (0.18 )   $ (0.19 )    
Shares used in calculating basic and diluted net loss per share   85,984       84,980       82,176       85,486       81,680    
                     

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