SUNNYVALE, Calif., April 25, 2013 (GLOBE NEWSWIRE) -- Applied Micro Circuits Corporation (Nasdaq:AMCC) ("AppliedMicro" or the "Company") today reported its financial results for the fourth quarter of fiscal 2013, ended March 31, 2013.
- Q4 FY2013 net revenues were $56.3 million, up 9.0% sequentially and 15.5% year over year.
- Q4 FY2013 non-GAAP EPS was $0.00 per diluted share on net income of $0.1 million, compared to $(0.10) per share on a net loss of $6.9 million, for the third quarter of fiscal 2013.
- Q4 FY2013 GAAP net loss was $30.2 million or $(0.45) per share, compared to net loss of $71.6 million or $(1.08) per share for the third quarter of fiscal 2013.
- Total Cash, cash equivalents and short-term investments was approximately $85.5 million as of March 31, 2013, compared to $84.2 million as of December 31, 2012.
- On April 22, 2013, the Company completed the sale of the outstanding shares of TPack A/S and certain specified intellectual property (IP) assets owned by the Company related to TPack's business to Altera Corporation for a total purchase price of approximately $33.5 million, subject to adjustments. The Company retains a license to the TPack IP.
- In April, the Company announced a strategic cooperation initiative with Altera Corporation to jointly develop and market optimized solutions for data center applications.
The Company solidified its leadership in the cloud server market category by sampling its X-Gene™ Server on a Chip™ solution to customers and partners including HP, Dell, Red Hat and others. HP also announced that a Moonshot server featuring X-Gene is scheduled to be released in the second half of 2013.
Net revenues for the fourth quarter of fiscal 2013 were $56.3 million compared to $51.7 million in the third quarter of fiscal 2013, representing a sequential increase of 9.0% and an increase of 15.5% over the $48.8 million in net revenues reported in the fourth quarter of fiscal 2012. Revenues for the full fiscal year 2013 were $195.6 million compared to $230.9 million for fiscal year 2012, representing a 15.3% decrease.