Applied Micro Circuits Corporation Reports First Quarter Fiscal 2017 Financial Results

 

         
APPLIED MICRO CIRCUITS CORPORATION
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
         
     Three Months Ended
     June 30,  March 31,  June 30,
      2016    2016    2015 
Net revenues$41,498  $41,108  $37,813 
Cost of revenues 16,029   16,934   16,806 
Gross profit 25,469   24,174   21,007 
Operating expenses:     
 Research and development 27,485   25,113   21,617 
 Selling, general and administrative 8,699   8,138   8,764 
 Restructuring -   (57)  96 
  Total operating expenses 36,184   33,194   30,477 
Operating loss (10,715)  (9,020)  (9,470)
Interest and other income, net 247   229   1,644 
Loss before income taxes (10,468)  (8,791)  (7,826)
Income tax provision (benefit) 71   116   (422)
Net loss $(10,539 )   $ (8,907 )   $ (7,404 )
                 
Basic and diluted net loss per share: $ (0.12 )   $ (0.11 )   $ (0.09 )
Shares used in calculating basic and diluted net loss per share   84,980       84,127       81,179  
                 

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