Applied Micro Circuits Corporation Reports Second Quarter Fiscal 2001 Financial Results
WEDNESDAY, OCTOBER 11, 2000 4:01:00 PM EST
SAN DIEGO, Oct 11, 2000 /PRNewswire via COMTEX/ -- Applied Micro Circuits Corporation (Nasdaq: AMCC) today reported its financial results for the second quarter of fiscal 2001.
Net revenues for the second quarter of fiscal 2001 were $97.0 million, an increase of 156% over the $37.9 million reported in the same period of fiscal 2000. Pro forma net income for the second quarter of fiscal 2001 was $35.7 million or $0.26 per share, compared with pro forma net income of $9.1 million or $0.08 per share for the second quarter of fiscal 2000, representing increases of 292% and 225%, respectively.
Sequentially, net revenues for the second quarter of fiscal 2001 increased 31% over the $74.2 million reported in the previous quarter. Pro forma net income for the second quarter of fiscal 2001 increased 28% over the $27.9 million, or $0.21 per share, reported in the previous quarter.
Net revenues for the six months ended September 30, 2000 were $171.2 million, up 146% over the $69.5 million for the six months ended September 30, 1999. Pro forma net income for the six months ended September 30, 2000 was $63.5 million or $0.47 per share compared with pro forma net income of $15.9 million or $0.14 per share for the six months ended September 30, 1999, representing increases of 300% and 236% respectively.
Pro forma net income excludes acquisition charges and the amortization of purchased intangibles, payroll and other tax effects on certain stock option exercises, and stock compensation charges related to acquired companies. Including these charges, net income on a GAAP basis for the second quarter of fiscal 2001 was $23.6 million or $0.17 per share, compared with $9.1 million or $0.08 per share for the same period last fiscal year. For the six months ended September 30, 2000, GAAP net income was $27.0 million or $0.20 per share compared to $15.9 million or $0.14 per share for the same period last fiscal year.... |
