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.