The conference call will be available via a live webcast on the investor relations section of NetLogic Microsystems’ web site at http://www.netlogicmicro.com. Access the web site 15 minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay will be available on the web site for three months.
About NetLogic Microsystems
NetLogic Microsystems, Inc. (NASDAQ: NETL), a fabless semiconductor company headquartered in Mountain View, California, designs, develops and markets high-performance knowledge-based processors and high-speed integrated circuits that accelerate the delivery of voice, video, data and multimedia content for advanced enterprise, datacenter, communications and mobile wireless networks. NetLogic Microsystems’ products include high-performance knowledge-based processors, application-aware content processors, 10-Gigabit Ethernet interconnects and network search engines that are being deployed by Tier 1 original equipment manufacturers (OEMs) in leading systems such as routers, switches, wireless infrastructure equipment, network security appliances, datacenter servers, network access equipment and network storage devices. NetLogic Microsystems' knowledge-based processors and content processors employ an advanced processor architecture and a large knowledge or signature database containing information on the network, as well as applications and content that run on the network, to make complex decisions about individual packets of information traveling through the network. NetLogic Microsystems’ products significantly enhance the performance and functionality of next-generation networks that are designed to deliver high-definition video delivery over the Internet (IPTV), media-rich content over advanced mobile wireless services, voice transmission over the Internet (VoIP) and network security applications. For more information about products offered by NetLogic Microsystems, call +1-650-961-6676 or visit the NetLogic Microsystems Web site at http://www.netlogicmicro.com.
NetLogic Microsystems, the NetLogic Microsystems logo, NETLite and NETL7 are trademarks of NetLogic Microsystems, Inc. All other trademarks are the sole property of their respective holders.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding NetLogic Microsystems’ business which are not historical facts may be “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to, customer acceptance and demand for our products, the volume of sales to our principal product customers, the timing of our receipt of customer orders during the quarter, manufacturing yields for our products, the timing of manufacture and delivery of product by our foundry suppliers, potential warranty claims and product defects, the length of our sales cycles, our average selling prices, our ability to successfully develop and sell new products, the effects of any business acquisitions that we might make, the strength of the OEM networking equipment market and the cyclical nature of that market and the semiconductor industry. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s reports on Forms 10-K and 10-Q, as well as other reports that NetLogic Microsystems files from time to time with the Securities and Exchange Commission which are available at http://www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and NetLogic Microsystems undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
NETLOGIC MICROSYSTEMS, INC. |
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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(IN THOUSANDS, EXCEPT FOR PER SHARE AMOUNTS) |
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(UNAUDITED) |
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June 30,
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June 30,
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Revenue | $ | 32,485 | $ | 36,543 | $ | 62,851 | $ | 70,723 | ||||||||
Cost of revenue* | 13,987 | 15,982 | 27,531 | 31,365 | ||||||||||||
Gross profit | 18,498 | 20,561 | 35,320 | 39,358 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development* | 14,136 | 12,357 | 26,334 | 24,563 | ||||||||||||
Selling, general and administrative* | 7,358 | 6,245 | 14,172 | 12,709 | ||||||||||||
Acquisition-related costs | 1,335 | - | 1,335 | - | ||||||||||||
Total operating expenses | 22,829 | 18,602 | 41,841 | 37,272 | ||||||||||||
Income (loss) from operations | (4,331 | ) | 1,959 | (6,521 | ) | 2,086 | ||||||||||
Interest and other income, net | 246 | 258 | 419 | 745 | ||||||||||||
Income (loss) before income taxes | (4,085 | ) | 2,217 | (6,102 | ) | 2,831 | ||||||||||
Provision for (benefit from) income taxes | (1,929 | ) | (115 | ) | (29 | ) | (628 | ) | ||||||||
Net income (loss) | $ | (2,156 | ) | $ | 2,332 | $ | (6,073 | ) | $ | 3,459 | ||||||
Net income (loss) per share - Basic | $ | (0.10 | ) | $ | 0.11 | $ | (0.28 | ) | $ | 0.16 | ||||||
Net income(loss) per share - Diluted | $ | (0.10 | ) | $ | 0.10 | $ | (0.28 | ) | $ | 0.16 | ||||||
Shares used in calculation - Basic | 21,961 | 21,390 |
21,883 |
21,277 | ||||||||||||
Shares used in calculation - Diluted | 21,961 | 22,529 | 21,883 | 22,214 | ||||||||||||
* Includes the following amounts of stock-based compensation (in thousands): |
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Three months ended |
Six months ended |
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June 30,
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June 30,
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June 30,
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June 30,
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Cost of revenue |
$ |
180 |
$ |
326 |
$ |
355 |
$ |
606 |
||||||||
Research and development |
3,461 |
1,777 |
5,612 |
3,795 |
||||||||||||
Selling, general and administrative |
2,377 |
1,171 |
4,351 |
2,574 |
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Total |
$ |
6,018 |
$ |
3,274 |
$ |
10,318 |
$ |
6,975 |
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