This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

PLX Technology, Inc. Reports First Quarter 2011 Financial Results

PLX Technology, Inc. (NASDAQ: PLXT), a leading global supplier of software-enriched silicon for the enterprise and consumer markets, today announced first quarter revenues of $28.1 million and a GAAP loss of $9.1 million, or $0.21 per share (diluted).

“Our revenues were up slightly in Q1 with record PCI Express switch revenue increasing more than 18 percent quarter over quarter due to strong demand in the enterprise storage market and Intel Sandy Bridge platforms,” said Ralph Schmitt, president and CEO of PLX. “We also completed the release of four new high-speed connectivity product families: 8Gbps PCI Express Gen3 switches, 10Gbps Ethernet Base-T PHYs, and 5Gbps USB 3.0 bridges and USB 3.0 storage controllers. These products continue to layer in opportunities for the rest of 2011 and 2012.”

Non-GAAP Financial Comparison
(in millions, except per share amounts)
    Quarterly Results

Q1 2011


Q1 2010


Q4 2010

Net revenues $ 28.1 $ 28.8 $ 27.8
Operating expense $ 19.3 $ 13.7 $ 19.0
Operating income (loss) $ (3.3 ) $ 2.7 $ (2.6 )
Net income (loss) $ (3.4 ) $ 2.5 $ (1.1 )
Earnings (loss) per share (diluted) $ (0.09 ) $ 0.07 $ (0.02 )

The above non-GAAP financial information (other than Net Revenues, which is presented on a GAAP basis) excludes share-based compensation, acquisition, restructuring and impairment charges and amortization of acquired intangibles. See “Use of Non-GAAP Financial Information” below.

GAAP Financial Comparison
(in millions, except per share amounts)
    Quarterly Results
Q1 2011     Q1 2010     Q4 2010
Net revenues $ 28.1 $ 28.8 $ 27.8
Operating expense $ 25.1 $ 14.7 $ 25.4
Operating income (loss) $ (9.0 ) $ 1.7 $ (9.1 )
Net income (loss) $ (9.1 ) $ 1.5 $ (7.6 )
Earnings (loss) per share (diluted) $ (0.21 ) $ 0.04 $ (0.17 )

“Our business metrics were in line with our previous projections,” said Schmitt. “While the impact of entering the 10G Ethernet business has caused our operating results to be negative for a few quarters, this investment will give the company another synergistic growth business as we see the technology become broadly adopted later in 2011 and into 2012.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs