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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
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
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