Wednesday, July 27, 2011

AppliedMicro Posts Quarterly Revenue of $60.8 million, up 4% sequentially

AppliedMicro reported Q1 2012 net revenues of $60.8 million, up 4% sequentially and up 0.1%. There was a GAAP net loss was $6.9 million or $0.11 per share compared to net loss of $4.0 million or $0.06 per share for the preceding quarter.

"Although we achieved our revenue targets for the quarter we did experience unfavorable product mix primarily with anticipated "turns" revenue for the quarter. Despite the hit to our gross margins we continue to see a high level of interest in our products and technology and I remain convinced that the long term fundamental growth drivers of our business remain intact." said Dr.Paramesh Gopi, President and Chief Executive Officer.