PLX Technology Loss Narrows, In Line With Estimates

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Semiconductor company PLX Technology, Inc. (PLXT) Monday reported narrower fourth-quarter loss of $4.4 million or $0.10 per share, compared with the loss of $7.6 million or $0.17 per share last year. Loss was in line with analysts' estimates.

Excluding one-time items, the adjusted net loss was $2.3 million, wider than the loss of $1.1 million last year. Adjusted loss per share was $0.06 compared to $0.02 last year.

On average, 4 analysts polled by Thomson Reuters expected the company to report loss of $0.06 per share for the quarter. Analysts estimates typically exclude one-time items.

Revenues for the quarter declined to $25.9 million from $27.8 million last year. Analysts estimated the company to report revenues of $25.8 million for the quarter

Ralph Schmitt, chief executive officer of PLX, said, "As we look ahead to 2012, we expect healthy growth in the area of solid-state storage solutions using our PCI Express Gen3 silicon and we plan to announce products that enable the wider-spread use of PCI Express as a cloud fabric that will drive our ability to deliver both board and system solutions to customers building the most advanced data center networks."

The company expects net revenues to be between $25 million and $29 million during the first quarter of 2012. Analysts expect revenues of $26.4 million for the quarter.

PLX expects gross margins of 58 percent and operating expenses of $24.4 million.

Schmitt added that the company is at the heart of some very positive growth vectors in the enterprise market that are likely to provide exciting opportunities for growth in the coming year.

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