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PLX Technology Loss Narrows; Stock Up - Update

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1/28/2013 7:07 PM ET

Semiconductor company PLX Technology Inc. (PLXT: Quote) Monday reported fourth-quarter net loss of $600 thousand or $.01 per share, compared with net loss of $5.4 million or $0.12 per share last year.

Results for the prior-year quarter included loss from discontinued operations of $6.7 million.

Excluding items, adjusted earnings from continuing operations for the quarter were $2.4 million or $0.06 per share, compared with $1.6 million or $0.04 per share last year.

Revenues for the quarter fell to $23.4 million from $24.9 million last year.

Analysts on consensus estimated earnings of $0.03 per share on revenues of $24.85 million for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, the company estimates net revenues of $25 million to $27 million.

Analysts currently expect revenues of $25.85 million for the first quarter.

Shares of the California-based company gained 4.7 percent in after-hours trade on the Nasdaq.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
After reporting a bigger than expected increase in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday that once again showed stronger than expected durable goods orders growth in the month of March. The report said durable goods orders surged up by 2.6 percent in March after jumping by a revised 2.1 percent in February. First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points.
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