Monday, April 26, 2010

Conexant Posts Revenue of $62 Million

Conexant reported quarterly revenues of $61.9 million, exceeding the company's financial guidance. GAAP gross margins were 61.1 percent of revenues. GAAP operating expenses were $26.9 million. GAAP net income including discontinued operations was $10.9 million, or $0.15 per diluted share.

"During the quarter we completed the financial restructuring of our company, which was one of our highest priorities," Scott Mercer, Conexant's chairman and chief executive officer said.