Wednesday, August 2, 2006

AMCC Reports Revenue of $69.7 Million, Positive Trends

AMCC reported revenue for the first quarter of fiscal 2007 was $69.7 million compared to $67.0 million reported in the fourth quarter of fiscal 2006 and $64.7 million reported in the first quarter of fiscal 2006.

The company's cash, cash equivalents and short-term investments at June 30, 2006 totaled $336.1 million, an increase of $400,000 over the comparable balance at March 31, 2006.

"We delivered the top end of our revenue guidance and we continue to be encouraged by solid customer traction and a good ramp on our design wins," said Kambiz Hooshmand, president and chief executive officer.

AMCC noted that its audit committee is still reviewing the company's historical stock option grant practices and related accounting. Finalized financial results are pending this review.

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