Applied Micro Edges Past Estimates

Net revenue for the third quarter rises to $65.2 million.
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Applied Micro Circuits

(AMCC)

said third-quarter revenue rose by about $4 million from the same period in fiscal 2005, and the company sharply narrowed its year-over-year loss.

Net revenue for the quarter rose to $65.2 million from $61.1 million a year ago.

The loss calculated by generally accepted accounting principles was $534,000. The company broke even on a per-share basis. Applied lost $81.9 million and 27 cents a share in last year's third quarter.

Before items, Applied would have earned $4.8 million, or 2 cents a share, a penny ahead of estimates.

"The third quarter was a solid quarter, and we achieved our overall financial and operational goals," the Sunnyvale, Calif., chipmaker said Wednesday. "This is our fourth consecutive quarter of pro forma operating profitability, and also is our second straight quarter of positive cash flow from operations."