Applied Micro Circuits Corporation Reports First Quarter Fiscal 2017 Financial Results
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APPLIED MICRO CIRCUITS CORPORATION | |
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |
(in thousands, except per share data) | |
(unaudited) | | | | | | | | | | | | | | | |
Three Months Ended | | | | | |
June 30, | |
March 31, | |
June 30, | | | | | | |
2016 | | | |
2016 | | | |
2015 | | | Net revenues | $ | 41,498 | | | $ | 41,108 | | | $ | 37,813 | | | Cost of revenues | | 16,029 | | | | 16,934 | | | | 16,806 | | | Gross profit | | 25,469 | | | | 24,174 | | | | 21,007 | | | Operating expenses: | | | | | | | | Research and development | | 27,485 | | | | 25,113 | | | | 21,617 | | | | Selling, general and administrative | | 8,699 | | | | 8,138 | | | | 8,764 | | | | Restructuring | | - | | | | (57 | ) | | | 96 | | | | | Total operating expenses | | 36,184 | | | | 33,194 | | | | 30,477 | | | Operating loss | | (10,715 | ) | | | (9,020 | ) | | | (9,470 | ) | | Interest and other income, net | | 247 | | | | 229 | | | | 1,644 | | | Loss before income taxes | | (10,468 | ) | | | (8,791 | ) | | | (7,826 | ) | | Income tax provision (benefit) | | 71 | | | | 116 | | | | (422 | ) | | Net loss | | $ | (10,539 | ) | | $ | (8,907 | ) | | $ | (7,404 | ) | | | | | | | | | | | | Basic and diluted net loss per share: | $ | (0.12 | ) | | $ | (0.11 | ) | | $ | (0.09 | ) | | Shares used in calculating basic and diluted net loss per share | | 84,980 | | | | 84,127 | | | | 81,179 | | | | | | | | | | | |
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