Key Developments For EZchip Semiconductor Ltd.
EZchip Semiconductor Ltd. (EZCH.O) (Consolidated Issue listed on NASDAQ Global Market)
EZchip Semiconductor Ltd. Comments On Q4 2009 And FY 2010 Revenue Outlook
EZchip Semiconductor Ltd. announced that for fourth quarter of 2009, it expects continued revenue growth both sequentially and year over year. For fiscal 2010, it expects to continue generating year over year revenue growth. The Company reported revenues of $10.7 million in third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $11.1 million for fourth quarter of 2009 and revenues of $52.4 million for fiscal 2010.
EZchip Semiconductor Ltd. Joins The TA-100 Index
EZchip Semiconductor Ltd. announced that the Company will join the TA-100 Index in the Tel Aviv Stock Exchange as of January 1, 2009.
LanOptics Ltd. Announces Name Change
LanOptics Ltd. announced that it has formally changed its corporate name to EZchip Semiconductor Ltd., effective July 22, 2008.
Ciena Uses LanOptics Ltd.'s EZchip's Network Processors For Carrier Ethernet Switching
LanOptics Ltd.'s EZchip Technologies Ltd. announced that Ciena Corporation, is using EZchip's NP-2 network processors in Ethernet aggregation and switching modules for its CN 4200 FlexSelect advanced services platform family.
LanOptics Ltd. To Complete Acquisition Of Substantially All Of EZchip's Equity
LanOptics Ltd. announced that the last two principal shareholder groups of its subsidiary, EZchip Technologies Ltd., have elected to exchange all of their shares of EZchip for shares of LanOptics. This exchange represents the last step in LanOptics long term plan to acquire 100% ownership of EZchip. LanOptics will acquire preferred shares of EZchip from the two principal shareholders, representing the equivalent of 20,047,365 EZchip ordinary shares, in exchange for the issuance of 5,011,841 LanOptics shares. The resulting dilution in each LanOptics shareholder's percentage of ownership will be substantially offset by the increase in LanOptics' holdings in EZchip. LanOptics' business consists exclusively of the business of EZchip, a company that is engaged in the development and sales of Ethernet network processors. Following the exchange, LanOptics will own approximately 99% of the outstanding share capital of EZchip, or 89% on a fully diluted basis
