EZchip Announces Record Second Quarter 2015 Results: Q2 Revenues Increase 28% Year-Over-Year To $28.3 Million

Use of Non-GAAP Financial Information

In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles (GAAP), this release of operating results also contains non-GAAP financial measures, which EZchip believes are the principal indicators of the operating and financial performance of its business. The non-GAAP financial measures exclude the effects of stock-based compensation expenses recorded in accordance with FASB ASC 718, acquisition related costs, amortization of purchased intangible assets and one-time charge due to early repayment of OCS grants. Management believes the non-GAAP financial measures provided are useful to investors' understanding and assessment of the Company's on-going core operations and prospects for the future, as the charges eliminated are not part of the day-to-day business or reflective of the core operational activities of the Company.  Management uses these non-GAAP financial measures as a basis for strategic decisions, forecasting future results and evaluating the Company's current performance.  However, such measures should not be considered in isolation or as substitutes for results prepared in accordance with GAAP.  Reconciliation of the non-GAAP measures to the most comparable GAAP measures are provided in the schedules attached to this release.

About EZchip

EZchip is a fabless semiconductor company that provides high-performance processing solutions for a wide range of applications for the carrier, cloud and data center networks. EZchip's broad portfolio of solutions scales from a few to hundreds of Gigabits-per-second, and includes network processors, multi-core processors, intelligent network adapters, high-performance appliances and a comprehensive software ecosystem. EZchip's processing solutions excel at providing great flexibility and high performance coupled with superior integration and power efficiency. For more information on our company, visit the web site at http://www.ezchip.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements are statements that are not historical facts and may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance.  These statements are only predictions based on EZchip's current expectations and projections about future events based on its current knowledge.  There are important factors that could cause EZchip's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements.  Those factors include, but are not limited to, the impact of general economic conditions, competitive products (including in-house customer developed products), product demand and market acceptance risks, customer order cancellations, reliance on key strategic alliances, fluctuations in operating results, delays in development of highly-complex products, the integration of Tilera's business and other factors indicated in EZchip's filings with the Securities and Exchange Commission (SEC).  For more details, refer to EZchip's SEC filings and the amendments thereto, including its Annual Report on Form 20-F filed on March 31, 2015 and its Current Reports on Form 6-K. EZchip undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law.

-- tables to follow --

 

 EZchip Semiconductor Ltd.

Condensed Consolidated Statements of Operations

(U.S. Dollars in thousands, except per share amounts)

(Unaudited)








Three Months Ended


Six Months Ended



June 30,


March 31,


June 30,


June 30,


June 30,



2015


2015


2014


2015


2014












Revenues


$       28,265


$      26,905


$       22,102


$     55,170


$     42,390

Cost of revenues


6,911


8,072


4,300


14,983


8,088

Repayment of OCS grants*


--


9,636


--


9,636


--

Gross profit


21,354


9,197


17,802


30,551


34,302












Operating expenses:











Research and development, net


10,458


11,683


7,394


22,141


14,496

Selling, general and administrative


5,964


6,071


4,478


12,035


8,250

Total operating expenses


16,422


17,754


11,872


34,176


22,746












Operating income (loss)


4,932


(8,557)


5,930


(3,625)


11,556












Financial income, net


487


291


284


778


744

Net income (loss)


$        5,419


$      (8,266)


$        6,214


$     (2,847)


$      12,300












Net income (loss) per share:











Basic


$          0.18


$        (0.28)


$          0.21


$       (0.10)


$        0.42

Diluted


$          0.18


$        (0.28)


$          0.21


$       (0.10)


$        0.42












Weighted average shares used in per share calculation:











Basic


29,980,199


29,823,727


29,157,533


29,902,395


29,068,467

Diluted


30,095,969


29,823,727


29,473,870


29,902,395


29,464,673
























« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »
Featured Video
Jobs
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
CAD Engineer for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Upcoming Events
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024
SEMI | MSIG MEMS & Imaging Sensors Summit at Munich Germany - Nov 14 - 15, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise