On Jan. 30, 2007, semiconductor and printed-circuit-board specialist Applied Micro Circuits
- Net revenues increased by 17.5%, primarily thanks to strong storage-products growth, which in turn was driven by enhanced product portfolio and channel partners.
- The firm reported a net loss of $4.2 million, compared with net income of $0.6 million for the same period last year.
- President and CEO Kambiz Hoosmand was disappointed with third-quarter revenues, but believes the company managed ongoing expenses well. The results were affected by ongoing telecom-sector consolidation and an industrywide inventory correction.
(Figures in thousands, except per-share data)
Income Statement Highlights
Q3 2007 |
Q3 2006 |
Change |
|
---|---|---|---|
Sales |
$76,642 |
$65,243 |
17.5% |
Net Profit |
($4,172) |
$584 |
N/A |
EPS |
($0.01) |
$0.00 |
N/A |
Diluted Shares |
281,799 |
299,049 |
(5.8%) |
Get back to basics with a look at the income statement.
Margin Checkup
Q3 2007 |
Q3 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
50.7% |
54.0% |
(3.3) |
Operating Margin |
(9.4%) |
(8.7%) |
(0.7) |
Net Margin |
(5.4%) |
0.9% |
(6.3) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets |
Q3 2007 |
Q3 2006 |
Change |
---|---|---|---|
Cash + ST Invest. |
$261,040 |
$350,810 |
(25.6%) |
Accounts Rec. |
$35,741 |
$22,390 |
59.6% |
Inventory |
$37,273 |
$20,648 |
80.5% |
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
---|---|---|---|
Accounts Payable |
$24,960 |
$28,268 |
(11.7%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
Management short-circuited and failed to provide a cash flow statement with the earnings release.
Find out why Fools always follow the money.
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