This will be an interesting week, here we go!
Applied Micro Circuits Corporation Reports Second Quarter Fiscal 2000 Financial Results
SAN DIEGO, Oct. 11 /PRNewswire/ -- Applied Micro Circuits Corporation (AMCC) (Nasdaq: AMCC) today reported its financial results for the second quarter ended September 30, 1999.
Net revenues for the second quarter of fiscal 2000 were $37.9 million, an increase of 49% over the $25.5 million reported in same period of fiscal 1999. Net income for the second quarter of fiscal 2000 was $9.1 million, or $0.16 per share, an increase of 95% over the $4.7 million, or $0.09 per share reported in the same period of fiscal 1999.
Sequentially, net revenues for the second quarter of fiscal 2000 increased 20% over the $31.6 million reported in the previous quarter. Net income for the second quarter of fiscal 2000 increased 34% over the $6.8 million, or $0.12 per share, reported in the previous quarter.
Net revenues for the six months ended September 30, 1999 were $69.5 million, up 41% over the net revenues of $49.3 million for the six months ended September 30, 1998. Net income for the six months ended September 30, 1999, was $15.9 million, or $0.28 per share, up 84% over net income of $8.7 million or $0.16 per share, for the six months ended September 30, 1998.
Commenting on the results, Dave Rickey, President and CEO of AMCC, noted, "The Company has achieved a 20% quarter-to-quarter sequential revenue increase, driven by a 38% sequential increase in our communications revenue. In addition, we exceeded 70% gross margin for the first time in the Company's history -- a milestone which could not have been accomplished were it not for the talent of our operations group, and the compelling nature of our products. This combination of rapid revenue growth coupled with solid execution on the part of the Company translates to a strong outlook for the third fiscal quarter."
Mr. Rickey continued, "We are also pleased to welcome Atiq Raza as the newest member to our board of directors. Atiq, previously President and COO of Advanced Micro Devices, brings a wealth of experience from the high-complexity digital processor industry, which will prove to be very beneficial as we move forward with our long-term company strategy."
Recent Product Announcements
-- Introduced the company's first Silicon Germanium (SiGe) device, the
S3060 OC-48 transimpedance amplifier, followed by the S3090, the
industry's first 10 Gbps SiGe OC-192 SONET/SDH transimpedance
amplifier.
-- Introduced the industry's first 3.2 Gbps SiGe 17 x 17 differential
crosspoint switch, the S2018.
-- Introduced the S3062, S3066 and S3067, the first OC-48 multi-rate
solution set with forward-error correction (FEC) for DWDM
applications, representing a 50% reduction in chip count and
35% reduction in power consumption.
-- Introduced the MISSOURI, a highly integrated framing and pointer
processing device that supports channelized OC-48 SONET and SDH
traffic.
-- Introduced the S3096, the industry's first SiGe OC-192 limiting
amplifier, a high-performance, 10Gbps limiting amplifier ideal for use
in OC-192 SONET/SDH-DWDM and high-frequency fiber-optic applications. |
