Posts net income of $6m
NetLogic Microsystems, a semiconductor technology provider, has posted revenues of $98.7m for the first quarter of 2011, up 14.4% from $86.3m for the first quarter of 2010, and a sequential decline of 1.8%.
Gross profit for the quarter increased to $60.4m from $35m in the same quarter of 2010.
For the first quarter ending 31 March 2011, the company’s operating income was $6.7m compared to an operating loss of $59m in the previous year quarter.
The net income for the quarter was $6.1m, or $0.08 per diluted share, compared to a net loss of $57.4m or $0.99 per diluted share, for the same period in 2010.
NetLogic Microsystems president and CEO Ron Jankov said the company’s design activity is very strong across all of their product categories as their offerings are providing their customers leading performance and power.
"We continue to enhance our growth opportunities, targeting some of the most significant technology trends in communications and networking today, including the deployment of advanced wireless infrastructure, the adoption of cloud computing, the migration to Internet Protocol version 6 and the transition to 10 Gigabit Ethernet," Jankov said.
"Our product portfolio is ideally suited to address the complex architectural requirements necessary to support these trends, which we expect to drive a significant increase in our TAM as they play out over time."