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Ambarella, Inc. Announces Fourth Quarter And Fiscal 2013 Financial Results

SANTA CLARA, Calif., March 7, 2013 (GLOBE NEWSWIRE) -- Ambarella, Inc. (Nasdaq:AMBA), a leading developer of low-power, HD video compression and image processing semiconductors, today announced financial results for its fiscal fourth quarter and year ended January 31, 2013.

Revenue for the fourth quarter of fiscal 2013 was $31.5 million, up 28.3% from $24.6 million in the same period in fiscal 2012. For the fiscal year ended January 31, 2013, revenue was $121.1 million, up 24.5% from $97.3 million for the year ending January 31, 2012.

Gross margin under U.S. generally accepted accounting principles (GAAP) for the fourth quarter of fiscal 2013 was 63.2%, compared with 68.2% for the same period in fiscal 2012. For the year ended January 31, 2013, GAAP gross margin was 66.6%, compared with 66.6% for the year ended January 31, 2012.

GAAP net income for the fourth quarter of fiscal 2013 was $3.6 million, or $0.13 per diluted ordinary share, compared with GAAP net income of $1.8 million, or $0.04 per diluted ordinary share, for the same period in fiscal 2012. GAAP net income for the year ended January 31, 2013 was $18.2 million, or $0.60 per diluted ordinary share. This compares to GAAP net income of $9.8 million, or $0.30 per diluted ordinary share, for the year ended January 31, 2012.

Gross margin on a non-GAAP basis for the fourth quarter of fiscal 2013 was 63.3%, compared with 68.3% for the same period in fiscal 2012. For the year ended January 31, 2013, non-GAAP gross margin was 66.7%, compared with 66.7% for the year ended January 31, 2012.

Non-GAAP net income for the fourth quarter of fiscal 2013 was $5.0 million, or $0.18 per diluted ordinary share. This compares with non-GAAP net income of $2.7 million, or $0.08 per diluted ordinary share for the same period in fiscal 2012. Non-GAAP net income for the year ended January 31, 2013 was $22.7 million, or $0.79 per diluted ordinary share. This compares to non-GAAP net income of $13.1 million, or $0.45 per diluted ordinary share, for the year ended January 31, 2012.

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