NetLogic Microsystems, Inc. (NASDAQ:NETL) reported a rise in profit in its fourth quarter as sales grew 44.50% during the period.
The semiconductor company said that its net income during the latest quarter soared to $32.9 million or $0.45 a share on an adjusted basis, ahead of analyst estimates of 36 cents a share. On GAAP basis, the company had a loss of $9.4 million or $0.14 a share.
Revenue for the period Oct-Dec, grew 44.50% to $100.4 million, from $69.5 million in the fourth quarter of 2009.
The company said it expects first-quarter revenue to remain flat compared with the fourth quarter, as some of the demand from China dilutes.
The company projects to earn 36 cents a share in the fiscal first quarter, 2 cents better than analyst projections of 34 cents a share.
Shares of NETL soared 7.60% in the pre-market session.
Over the past one year, the stock has jumped over 76%. It has a 52-week range of $21.32-$38.33.
NetLogic Microsystems, Inc., is a semiconductor company that designs, develops and sells processors and integrated circuits that are used by original equipment manufacturers (OEMs) in routers, switches, wireless infrastructure equipment, network security appliances.
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