This Day On The Street
Continue to site
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

Applied Micro Circuits Corporation Reports Fiscal Year 2014 Revenue Up 10.5% Year-Over-Year

SUNNYVALE, Calif., April 24, 2014 (GLOBE NEWSWIRE) -- Applied Micro Circuits Corporation (Nasdaq:AMCC) ("AppliedMicro") today reported its financial results for the fiscal fourth quarter and full year ended March 31, 2014.

Fiscal Q4 2014 Financial Information
  • Consolidated net revenue of $51.8 million
  • GAAP net income of $23.1 million or $0.30 per diluted share
  • Non-GAAP net income of $0.7 million or $0.01 earnings per diluted share
  • Total cash, cash equivalents and short-term investments were approximately $106.6 million as of March 31, 2014

Fiscal 2014 Full-Year Financial Information
  • Consolidated net revenue of $216.2 million
  • GAAP net loss of $5.7 million or $0.08 per share
  • Non-GAAP net income of $5.8 million or $0.08 earnings per diluted share

Commenting on AppliedMicro's fourth quarter and fiscal 2014 full year operations, Dr. Paramesh Gopi, President and Chief Executive Officer, said, "We are very excited with the progress we have made to commercialize X-Gene™. Design win momentum is strong, and we have purchase orders in-hand. We expect to begin sampling X-Gene 2 later this spring." Dr. Gopi continued, "In addition, our leadership in the OTN / converged Ethernet market has positioned us very well to benefit from the adoption of 100Gbps connectivity within and between data centers."

Doug Ahrens, Chief Financial Officer, said, "The base business performed better than our expectations on the bottom line and continues to support the ongoing development of our X-Gene and X-Weave™ growth initiatives. We are also very pleased to have further strengthened our balance sheet in the quarter."

Fiscal 2014 Fourth Quarter Results

Total net revenue for the fiscal 2014 fourth quarter was $51.8 million compared to $54.8 million in the third quarter of fiscal 2014 and $56.3 million in the fourth quarter of fiscal 2013, representing a decrease of 6% sequentially and a decrease of 8% year-over-year.

1 of 2

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.07 1.50%
FB $118.07 -0.42%
GOOG $694.98 -0.46%
TSLA $236.45 -2.20%
YHOO $36.11 -1.10%


Chart of I:DJI
DOW 17,737.89 -153.27 -0.86%
S&P 500 2,061.91 -19.52 -0.94%
NASDAQ 4,767.95 -49.6440 -1.03%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs