EARNINGS REPORTING - surprises, misses & more Message Board

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Non-Tech : EARNINGS REPORTING - surprises, misses & more

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To: 2MAR$ who wrote (324)	10/11/2000 6:19:31 PM
From: 2MAR$	Read Replies (1) of 762

AMCC...Q2 earnings beat expectations SAN DIEGO, Oct 11 (Reuters) - Communications chip maker Applied Micro Circuits Corp. <AMCC.O> on Wednesday reported better than anticipated earnings for the second quarter, and declared a 2-for-1 stock split. The San Diego-based company reported pro forma net income for the quarter of $35.7 million, or 26 cents a diluted share, compared with year-ago figures of $9.1 million or 8 cents a diluted share. Revenues were $97 million, an increase of 156 percent from the $37.9 million from the second quarter the previous year. That surpassed a financial analyst consensus estimate of earnings of 23 cents per share, as compiled by First Call/Thomson Financial. Shares of the company closed down 6 percent or $10-61/64 to $167-47/64 on the Nasdaq after volatile trade. Applied Micro's stock has been as low as $27-3/16 a year ago, and peaked late last month at $219-1/2. Applied Micro sells chips to large networking companies, such as Cisco Systems Inc. <CSCO.O> and Lucent Technologies Inc. <LU.N>, which reported its third profit warning of the year earlier in the day. ((Timna Tanners, Los Angeles newsroom, 213-380-2014)) REUTERS * end of story *

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