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Applied Micro Circuits Corporation Reports Preliminary Third Quarter Fiscal 2000 Financial Results
Revenues Between $44.5 Million and $45.5 Million Earnings Per Share Between $0.19 and $0.20 Per Share
SAN DIEGO, Jan. 3 /PRNewswire/ -- Applied Micro Circuits Corporation (AMCC) (Nasdaq: AMCC), a leader in high-bandwidth silicon for the world's optical networks, today reported preliminary financial results for the third quarter ended December 31, 1999.
Net revenues for the quarter ended December 31, 1999 are expected to be between $44.5 and $45.5 million. The increase in revenues over the second quarter was primarily due to the strong demand for communication products, which is expected to make up between 81% and 83% of net revenues for the quarter, and the continued strong demand from AMCC's largest customer, Nortel, which we estimate will be between 38% and 40% of net revenues for the quarter. AMCC's earnings per share are expected to be between $0.19 and $0.20 per share.
In December 1999, AMCC filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of shares of common stock by the Company. This registration statement has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
AMCC designs, develops, manufactures and markets high-performance, high-bandwidth silicon solutions for the world's optical networks. The Company utilizes a combination of high-frequency analog, mixed-signal and digital design expertise coupled with system-level knowledge and multiple silicon process technologies to offer integrated circuit products that enable the transport of voice and data over the fiber optics networks. AMCC's corporate headquarters and wafer fabrication facilities are located in San Diego. Sales and consulting engineering offices are located throughout the world.
This news release contains forward-looking statements, including statements regarding the Company's financial performance, that are subject to certain risks and uncertainties, including, but not limited to, those associated with manufacturing execution, concentration of revenues with major customers and the businesses of the Company's major customers. In addition, these forward looking statements are subject to the risk and uncertainties set forth in the Company's Annual Report on Form 10-K for the year ended March 31, 1999, the Company's Registration Statement on Form S-3 (No. 333-92431) and the Company's other filings with the Securities and Exchange Commission. Actual results could differ materially, as a result of such factors, from those set forth in the forward-looking statements.
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SOURCE: Applied Micro Circuits Corporation
CONTACT: William Bendush, Vice President, Chief Financial Officer, 858-450-9333, or Debra Hart, Investor Relations Manager, 858-535-4217, both of Applied Micro Circuits Corporation |
