- Q2 FY 2011 Net Revenues: $103.7 million
- Q2 FY 2011 GAAP Net Loss: $35.2 million; $0.51 per share (diluted)
- Q2 FY 2011 Non-GAAP Net Income: $33.7 million; $0.45 per share (diluted)
SANTA CLARA, Calif. — (BUSINESS WIRE) — July 28, 2011 — NetLogic Microsystems, Inc. (NASDAQ: NETL), a worldwide leader in high performance intelligent semiconductor solutions for next-generation Internet networks, today announced financial results for its second quarter ended June 30, 2011.
Revenue for the second quarter of 2011 was $103.7 million, a 5.1% sequential increase from $98.7 million for the first quarter of 2011 and a 9.1% increase from $95.0 million for the second quarter of 2010.
Second quarter 2011 net loss, determined in accordance with generally accepted accounting principles (GAAP), was $35.2 million or $0.51 per diluted share. By comparison, GAAP net loss was $4.8 million or $0.08 per diluted share for the second quarter of 2010. GAAP net loss for second quarter 2011 included stock-based compensation and related payroll taxes, changes in contingent earn-out liability, amortization of intangible assets, fair value adjustments of acquired inventory and related taxes, acquisition-related costs, a gain recognized on a pre-acquisition investment in Optichron, Inc, and an impairment charge on another investment. Excluding these items, non-GAAP net income for the second quarter of 2011 was $33.7 million or $0.45 per diluted share, compared with $0.38 per diluted share for the second quarter of 2010.
Management Qualitative Comments
“With continued positive trends in the wireless infrastructure market, we are seeing healthy demand for our products”, said Ron Jankov, president and CEO. “Our multi-core processors posted record revenue in Q2 and we are also beginning early stage volume ramps of our NL10k and NL11k knowledge-based processors, optimized for handling IPv6 traffic. Our product development continues at an accelerated pace across our multi-core, knowledge-based processor, physical layer and digital front-end processor families, which we believe is driving a sizeable expansion of our TAM and significant growth opportunities over the next several years.”
- ZTE Corporation has selected the company’s industry-leading digital front-end (DFE) processors for ZTE’s RRU8882 remote radio unit (RRU) platform for LTE common-platform base stations.
- The company announced the availability of the XLP316T multi-core processor, which is optimized to deliver unparalleled performance and intelligence for the rapidly growing storage-area networking (SAN) and network-attached storage (NAS) markets in data center, enterprise and small-to-midsize business (SMB) networks. In a recent Microprocessor Report article, the XLP316T multi-core processor was reviewed as a device that “will deliver far more throughput than competing quad-core processors at similar power levels.”
- The company and EZchip announced that the companies are collaborating to deliver the industry's highest performance, merchant, packet-processing solutions for IPv6-ready Terabit class systems. By optimizing and implementing exclusive operational modes in both EZchip's NP-4 100Gbps network processor (NPU) and the company’s NL11k knowledge-based processor, the companies are enabling customers to achieve enhanced performance and functionality when using both the processors together when compared to alternative solutions.
- The company was recognized as having one of the top 50 patent portfolios by The Patent BoardTM in its quarterly Semiconductor Industry Scorecard in a Wall Street Journal article. The company’s patent portfolio ranked 8th in Industry ImpactTM, which is based on the extent to which other companies are building upon a portfolio of issued US utility patents as compared to the total set of utility patents. The company has more than 550 issued U.S. and foreign patents covering a wide range of innovations.
- The company’s best-in-class NL10k knowledge-based processor optimized for IPv6 processing was selected by Alcatel-Lucent for its multi-terabit IP Service Router portfolio. The company’s NL10k IPv6 knowledge-based processor has been developed in close collaboration with Alcatel-Lucent's distinguished R&D team, and has been optimized for Alcatel-Lucent's FP3 network processor and traffic manager.
- The company began volume production for its NL11k family of IPv6 knowledge-based processors for delivery to customers' next generation of IPv6 switches and routers. The first of over two dozen IPv6 systems from leading original equipment manufacturers (OEMs) that are using the NL11k knowledge-based processors will begin shipping in production in the third quarter of 2011, with the remaining customer systems expected to commence shipping over the following twelve months.
- The company announced that it has received, and is now accepting orders for volume production for its best-in-class XLP316L multi-core, multi-threaded processors from customers developing next-generation LTE base stations. The company’s industry-leading XLP316L multi-core processor delivers unparalleled performance and sets a new standard for Tier One OEMs developing highly differentiated eNodeB solutions for LTE and LTE-Advanced.
- The company closed its acquisition of Optichron, Inc., a provider of 3G/4G LTE base station digital front-end (DFE) processors. Shortly thereafter, the company announced the availability of the OP6100 family of DFE processors that deliver 65MHz of occupied bandwidth, 145MHz of total bandwidth and 325MHz of pre-distortion bandwidth for next-generation 3G and 4G/LTE base stations, remote radio heads (RRUs) and distributed antenna systems (DAS).