Mobile Infrastructure Solutions for Next Generation
Msoftware-compatible processors ranging intelligent processors for enterprise, data-center, broadband  
News & Events > Press Releases   
 
NEW Wireless Display Adapter  
Cavium Announces Financial Results for Q1 2013

SAN JOSE, Calif., April 30, 2013 – Cavium, Inc. (NASDAQ: CAVM), a leading provider of highly integrated semiconductor products that enable intelligent processing for networking, communications, and the digital home, today announced financial results for the first quarter of 2013 ended March 31, 2013.

Revenue in the first quarter of 2013 was $69.5 million, a 4.8% sequential increase from the $66.4 million reported in the fourth quarter of 2012.

Generally Accepted Accounting Principles (GAAP) Results
Net loss attributable to the Company for the first quarter of 2013, on GAAP basis was $3.2 million, or $(0.06) per diluted share compared to $78.8 million, or $(1.56) per diluted share in the fourth quarter of 2012. Net loss for the fourth quarter of 2012 included a non-cash charge of $43.5 million to provide for a valuation allowance for net deferred tax assets and non-cash charges for goodwill and other intangible asset impairment of $33.3 million. Gross margins were 62.4% in the first quarter of 2013 compared to 62.3% in the fourth quarter of 2012. Total cash and cash equivalents were $86.5 million at March 31, 2013.

Non-GAAP Results
Cavium believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Cavium’s financial condition and results of operations. These measures should only be used to evaluate Cavium’s results of operations in conjunction with the corresponding GAAP measures. The reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this release.

Non-GAAP net income for the first quarter of 2013 was $10.2 million or $0.19 per diluted share, compared with non-GAAP net income of $10.6 million or $0.20 per diluted share in the fourth quarter of 2012. Gross margins, on a non-GAAP basis, were 65.4% and operating margins (non-GAAP income from operations as a percentage of revenue), on a non-GAAP basis were 16.0% in the first quarter of 2013.

Recent News Highlights

Cavium, Inc. will broadcast its first quarter 2013 financial results conference call today, April 30, 2013, at 2 p.m. Pacific time (5 p.m. Eastern time).  The conference call will be available via a live web cast on the investor relations section of the Cavium website at http://www.cavium.com.  Please access the website at least a few minutes prior to the start of the call in order to download and install any necessary audio software. An archived web cast replay of the call will be available on the web site for a limited period of time.

About Cavium
Cavium is a leading provider of highly integrated semiconductor products that enable intelligent processing for networking, communications and the digital home. Cavium offers a broad portfolio of integrated, software-compatible processors ranging in performance from 10 Mbps to 100 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Cavium processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium’s principal office is in San Jose, CA with design team locations in California, Massachusetts, India and China. For more information, please visit: http://www.cavium.com.

 

 


####




OCTEON®, NITROX®, ECONA™ and PureVu™ are registered trademarks of Cavium, Inc.
All other trademarks are the property of their respective owners. All rights reserved. © Cavium, Inc. 2012.

   
Innovative Mobile Infrastructure Solutions

All contents are Copyright © 2000 - 2017 Cavium. All rights reserved.     Privacy Policy   |   Copyright Policy   |   Site Map