"Higher gross profits in the first quarter, combined with lower expenses, drove increased income over Q4 and contributed to our fifth straight profitable quarter," said David Raun, PLX® president and CEO. "In addition, we increased cash, saw strong bookings to support Q2 growth, and layered in another solid quarter of design wins."
Non-GAAP Financial Comparison
(in millions, except per share amounts)
Quarterly Results
Q1 2014 Q4 2013 Q1 2013
--------- --------- ---------
Net revenues $ 24.8 $ 25.7 $ 26.2
Gross Margin $ 15.0 $ 14.3 $ 15.5
Operating expense $ 11.9 $ 12.4 $ 11.6
Operating income from continuing operations $ 3.1 $ 1.9 $ 3.9
Income from continuing operations $ 3.0 $ 1.9 $ 3.8
Income per share (diluted) from continuing
operations $ 0.07 $ 0.04 $ 0.09
The above non-GAAP financial information (other than net revenues, which are presented on a GAAP basis) excludes share-based compensation, royalty accruals associated with the Internet Machines litigation, acquisition and restructuring costs, and discontinued operations. See "Use of Non-GAAP Financial Information" below.
GAAP Financial Comparison
(in millions, except per share amounts)
Quarterly Results
Q1 2014 Q4 2013 Q1 2013
--------- --------- ---------
Net revenues $ 24.8 $ 25.7 $ 26.2
Gross Margin $ 14.8 $ 14.1 $ 15.5
Operating expense $ 12.5 $ 13.2 $ 12.7
Operating income from continuing operations $ 2.3 $ 0.8 $ 2.9
Income from continuing operations $ 2.2 $ 0.8 $ 2.7
Income per share (diluted) from continuing
operations $ 0.05 $ 0.02 $ 0.06
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