Key Developments: Cavium Networks, Inc. (CAVM.O)
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9 Feb 2010
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Latest Key Developments
Cavium Networks, Inc. Issues Q1 2010 Guidance-Conference Call
Cavium Networks, Inc. announced that for the first quarter of 2010, it expects strong sequential sales growth and sees it to be between $40 million and $41 million of which approximately $5 million will come from MontaVista. Excluding MontaVista this would be a sequential growth rate of between 12% and 15%. The Company expects that first quarter 2010 non-GAAP net income will be between $0.11 and $0.12 per share. Non-GAAP results in 2010 will exclude approximately $6.5 million per quarter in stock based compensation expense and acquired amortization expense plus an additional $2 million in each first and second quarter related specifically to MontaVista retention and severance payments that were part of the deal.
BAE Systems Selects Cavium Networks, Inc.'s MontaVista Software To Power New Artillery and Naval Gun Systems
Cavium Networks, Inc.'s MontaVista Software, LLC announced that BAE Systems Bofors in Sweden has selected MontaVista Linux to power their new naval and artillery gun systems.
Zinwell Corporation Selects Cavium Networks, Inc.'s PureVu Video Processors For Wireless Home Video Distribution Product Line
Cavium Networks, Inc. announced that Zinwell Corporation has adopted Cavium's PureVu video processors with netHD technology to enable several designs with WiFi-based wireless display capability. The new Zinwell products will leverage Cavium's superior H.264 video processor family, with SLL (Super-Low-Latency) Technology, to address whole home media distribution, as well as extremely latency-sensitive applications such as gaming.
Quanta Microsystems, Inc. Selects Cavium Networks, Inc.'s PureVu Video Processor For Display MiniCard Module Targeting Notebook PCs And Wireless Displays
Cavium Networks, Inc. announced that Quanta Microsystems, Inc. (QMI) has adopted Cavium's new PureVu CNW5XXX video processor family for wireless home video distribution products, including the Display MiniCard (DMC) module targeted at high resolution and low latency wireless display application for notebook PCs and netbooks.
Cavium Networks, Inc. Introduces New Family Of PureVu Single Chip H.264 Processors
Cavium Networks, Inc. announced a new family of full HD (1080p60) system-on-a-chip (SoC) H.264 video processors for consumer and enterprise applications. The PureVu CNW5XXX family combines Cavium`s Super-Low-Latency (SLL) H.264 video processor, Nitrox security technology, and intelligent networking and packet processing capabilities in a fully integrated SoC that brings the company`s netHD technology to a variety of video applications, including wireless display, HDMI cable replacement, home media distribution, and video conferencing. The high degree of integration deployed in the CNW5XXX family is intended to provide OEMs with aggressive system bill-of-materials (BOM) cost in order to enable mass market adoption in such devices as flat panel TVs, Blu-ray players, notebook PCs and netbooks, gaming consoles, as well as SMB and SOHO video communication systems.
Cavium Networks, Inc. Completes Acquisition Of MontaVista Software, Inc.
Cavium Networks, Inc. announced that it has completed their acquisition of MontaVista Software, Inc., finalizing an agreement that was announced on November 10, 2009.
Cavium Networks, Inc. Raises Q4 2009 Revenue Guidance
Cavium Networks, Inc. raised its fourth quarter of 2009, it expects revenue will increase sequentially by between 18% and 20% over revenue in the third quarter of 2009, compare to previous would increase sequentially by between 12% and 16%. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $29.7 million for the same period.
Cavium Networks, Inc. Signs Definitive Agreement To Acquire MontaVista Software
Cavium Networks, Inc. announced that it has signed a definitive agreement to acquire MontaVista Software for $50 million, comprised of approximately $16 million in cash and approximately $34 million in Cavium Networks common stock. The deal is expected to close in December 2009. After the acquisition, MontaVista Software will run as a separate operating unit and will retain the MontaVista brand name.
Cavium Networks, Inc. Issues Q4 2009 Revenue Outlook Above Analysts' Estimates-Conference Call
Cavium Networks, Inc. announced that for the fourth quarter of 2009, it expects sales to be between $29 and $30 million and non-GAAP net income to be somewhere between $0.05 a share and $0.06 per share. According to Reuters Estimates, analysts on an average were expecting the Company to report earnings per share (EPS) of $0.03 on revenue of $27 million for the same period.
Broadcast Sports Deploys Cavium Networks, Inc.'s PureVu H.264 HD video processors
Cavium Networks, Inc. announced that its PureVu H.264 HD video processors have been deployed by Broadcast Sports, Inc. in race cars at over 200 auto-racing events. Broadcast Sports, Inc. has been using Cavium Networks, Inc.'s HD PureVu processors inside their on-board wireless HD cameras for transmission of live video feeds from race cars at premier racing and sporting events including the Indy 500, Daytona 500 and the X Games.
UPDATE 2-Cavium Networks posts Q4 above market, sees strong Q1
Jan 28 (Reuters) - Chipmaker Cavium Networks Inc posted fourth-quarter results that beat market expectations, helped by growth in its enterprise and data center markets, and forecast a strong first quarter.
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