PLX Technology, a provider of semiconductor devices, has reported revenues of $28.1m for the first quarter 2011, a marginal drop compared to $28.8m for the same quarter last year.
The company has posted an operating loss of $9.0m, compared to an operating income of $1.7m for the same quarter last year.
For the first quarter ended 31 March 2011, the company posted net loss of $9.1m and EPS loss of $0.21, compared to a net income of $1.5m and EPS of $0.04 for the same period a year ago.
PLX Technology CEO Ralph Schmitt said revenues were up slightly in Q1 with record PCI Express switch revenue increasing more than 18% quarter over quarter due to strong demand in the enterprise storage market and Intel Sandy Bridge platforms.
"We also completed the release of four new high-speed connectivity product families: 8Gbps PCI Express Gen3 switches, 10Gbps Ethernet Base-T PHYs, and 5Gbps USB 3.0 bridges and USB 3.0 storage controllers. These products continue to layer in opportunities for the rest of 2011 and 2012," Schmitt said.
For the second quarter of 2011, the company expects net revenues to range between $27m and $30m, and gross margin to be approximately 56%.
