PLX Technology, Inc. Reports Second Quarter 2010 Financial Results

Second Quarter Results

  • Record Revenue $29.7M - 63% Growth Year-on-Year
  • Record NAS Revenue - 66% Growth over Q1 2010
  • Highest-Performance USB 3.0 Storage Controllers Sampled

SUNNYVALE, Calif. — (BUSINESS WIRE) — July 26, 2010 — PLX Technology, Inc. (NASDAQ: PLXT) today announced second quarter 2010 revenues of $29.7 million and net income of $1.7 million, or $0.04 per share (diluted).

“We have now had four successive growth quarters with strong trends continuing in some of our newer network attach storage and USB-interconnect products,” said Ralph Schmitt, president and CEO of PLX. “Bookings remain strong and we expect to see a robust third quarter, which will be seasonally driven by storage and supported with continued strength in the enterprise-based PCI Express® business.”

         
GAAP Financial Comparison
(in millions, except per share amounts)
Quarterly Results Year to Date

Q2 2010

Q2 2009

Q1 2010

2010

2009

Net revenues

$ 29.7 $ 18.2 $ 28.8 $ 58.5 $ 34.6
Operating expense $ 15.6 $ 16.6 $ 14.7 $ 30.2 $ 34.9
Operating income (loss) $ 1.9 $ (6.5 ) $ 1.7 $ 3.6 $ (15.8 )
Net income (loss) $ 1.7 $ (9.1 ) $ 1.5 $ 3.2 $ (19.6 )
Earnings (loss) per share (diluted) $ 0.04 $ (0.26 ) $ 0.04 $ 0.08 $ (0.57 )
 
Non-GAAP Financial Comparison
(in millions, except per share amounts)
Quarterly Results Year to Date

Q2 2010

Q2 2009

Q1 2010

Q2 2010

Q2 2009

Net revenues

$ 29.7 $ 18.2 $ 28.8 $ 58.5 $ 34.6
Operating expense $ 14.5 $ 13.6 $ 13.7 $ 28.2 $ 28.1
Operating income (loss) $ 3.0 $ (3.4 ) $ 2.7 $ 5.7 $ (8.9 )
Net income (loss) $ 2.8 $ (6.0 ) $ 2.5 $ 5.3 $ (12.7 )
Earnings (loss) per share (diluted) $ 0.07 $ (0.18 ) $ 0.07 $ 0.13 $ (0.37 )
 

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