SUNNYVALE, Calif., July 24, 2013 (GLOBE NEWSWIRE) -- Applied Micro Circuits Corporation (Nasdaq:AMCC) ("AppliedMicro" or the "Company") today reported its financial results for the first quarter of fiscal 2014, ended June 30, 2013.
- Q1 FY2014 net revenues were $54.1 million, down 4.0% sequentially and up 31% year over year.
- Q1 FY2014 non-GAAP EPS was $0.02 per diluted share on net income of $1.4 million, compared to $0.00 per diluted share on net income of $0.1 million, for the fourth quarter of fiscal 2013.
- Q1 FY2014 GAAP net income was $10.9 million or $0.15 per diluted share, compared to net loss of $17.6 million or $(0.26) per share for the fourth quarter of fiscal 2013.
- Total Cash, cash equivalents and short-term investments was approximately $89.7 million as of June 30, 2013, compared to $85.5 million as of March 31, 2013.
- AppliedMicro's X-Gene ™ Server on a Chip product continues to be on track for commercial production as indicated by key customers' systems-development commitments; and public demonstrations by multiple customers and ecosystem partners.