Applied Micro Circuits

(AMCC)

reported fiscal third-quarter earnings Tuesday that beat Wall Street expectations by two cents.

The high-speed networks chip maker said it earned $48.1 million or 16 cents a share, excluding amortization and other charges, up from the $21.1 million, or 5 cents a share, in the year-ago period. Seventeen analysts polled by

First Call/Thomson Financial

were anticipating a gain of 14 cents a share for the quarter.

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Revenues for the period also rose to $143.3 million, an increase of 213% over the $45.8 million posted in the equivalent period last year.

Shares of Applied Micro, which is based in San Diego, Calif., fell $1.25, or 1.75%, to $70.38 in regular session

Nasdaq

trading, and slipped even further in after-hours

Island

activity, falling to $68.75 recently.