Expects Q1 net revenues to range between $26m and $29m
PLX Technology, a provider of semiconductor devices, has reported revenues of $27.8m for the fourth quarter 2010, a marginal increase compared to $26.6m for the same quarter last year.
The company has posted an operating loss of $9.1m, compared to an operating income of $2.4m for the same quarter last year.
For the fourth quarter ended of 2010, the company posted net loss of $7.6m and EPS loss of $0.17, compared to a net income of $2.6m and EPS of $0.07 for the same period a year ago.
For the fiscal year 2010, net revenues were $116.6m, up 41% compared to $82.8m for the previous fiscal year.
Loss from operations decreased to $2.9m, compared to an operating loss of $15.5m in 2009.
The company posted net loss of $3.3m or EPS loss of $0.08 for the fiscal 2010, compared to a net loss of $18.8m or EPS loss of $0.53 in the previous fiscal.
PLX Technology CEO Ralph Schmitt said due to customer inventory digestion, their revenue results in the fourth quarter fell short of their expectations.
"The fundamentals of our business remain strong as our design win activity and closure rate are very robust, positioning us well for 2011," Schmitt said.
For the first quarter of 2011, the company expects net revenues to range between $26m and $29m.