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Technology Stocks : Applied Micro Circuits Corp (AMCC) -- Ignore unavailable to you. Want to Upgrade?

To: Capt who wrote (1477)	4/24/2001 4:10:43 PM
From: Kayaker	Read Replies (1) \| Respond to of 1805

Applied Micro Circuits Corporation Reports Fourth Quarter Of Fiscal 2001 Financial Results 4/24/2001 4:01:00 PM Revenues of $121.1 Million Pro Forma Earnings Per Share $0.09 SAN DIEGO, April 24 /PRNewswire Interactive News Release/ -- Applied Micro Circuits Corporation (AMCC) today reported its financial results for the fourth quarter of fiscal 2001. Net revenues for the fourth quarter of fiscal 2001 were $121.1 million, an increase of 112% over the $57.0 million reported in the same period of fiscal 2000. Pro forma net income for the fourth quarter of fiscal 2001 was $28.3 million or $0.09 per share, compared with pro forma net income of $21.0 million or $0.08 per share for the fourth quarter of fiscal 2000. Sequentially, net revenues for the fourth quarter of fiscal 2001 decreased 15% from the $143.3 million reported in the prior quarter or 19% from the $150.0 million pro forma combined revenue in the prior quarter (pro forma combined revenue includes the revenue for MMC Networks for the entire third quarter). Pro forma net income for the fourth quarter of fiscal 2001 decreased 41% from the $48.1 million, or $0.16 per share, reported in the prior quarter. Net revenues for the year ended March 31, 2001 were $435.5 million, up 153% over the $172.4 million for the year ended March 31, 2000. Pro forma net income for the year ended March 31, 2001 was $139.9 million or $0.48 per share compared with pro forma net income of $49.0 million or $0.21 per share for the year ended March 31, 2000. Commenting on the results, Dave Rickey, Chairman of the Board, Chief Executive Officer and President of AMCC, said, "Despite near-term weakness and poor visibility, we remain confident in our end markets, and believe that we are well-positioned in those markets long-term. We are experiencing continued success in winning new sockets and design wins, and in addition to rounding out our OC-48 and OC-192 product portfolios, we have introduced the industry's first commercially available OC-768 transimpedance amplifier. We posted a revenue increase of 112% over the same fiscal quarter last year, and a revenue increase of 153% compared to fiscal 2000; between a strong balance sheet and managing our break-even, we are confident of powering through this current market downturn.".... cbs.marketwatch.com