Key Developments For Netlogic Microsystems Inc
Netlogic Microsystems Inc (NETL.O) (Consolidated Issue listed on NASDAQ Global Market)
LG Electronics Selects NetLogic Microsystems, Inc.'s Au1300 Processor
NetLogic Microsystems, Inc. announced that its Au1300 Processor, the member of its ultra low-power Alchemy processor family, has been selected by LG Electronics for LG`s automotive infotainment solutions. These processors from NetLogic Microsystems have enabled LG to offer on-the-go solutions that provide users with seamless connectivity, unparalleled media experience and advanced navigation capabilities from the convenience of the automobiles.
NetLogic Microsystems, Inc. Issues Q4 2009 Guidance EPS Guidance Above Analysts' Estimates; Raises FY 2010 Guidance-Conference Call
NetLogic Microsystems, Inc. announced that for fourth quarter of 2009, it expects revenues to be approximately $61.5 million and non-GAAP earnings per share (EPS) to be $0.42 per share. The Company updated fiscal 2010 guidance and expects revenues to total over $295 million and non-GAAP earnings per share (EPS) to be approximately $1.75. Earlier the Company forecasted revenues to be approximately $275 million with $1.60 of non-GAAP EPS. According to Reuters Estimates, analysts were expecting the Company to report revenues of $61.1 million and EPS of $0.36 for fourth quarter of 2009; revenues of $279 million and EPS of $1.67 for fiscal 2010.
Silicon Valley Bank Leads Acquisition Financing For NetLogic Microsystems, Inc.
Silicon Valley Bank announced that it recently helped its client, NetLogic Microsystems, Inc., close an acquisition financing of $55 million in new credit facilities. NetLogic Microsystems sought out loans from a group of lenders led by Silicon Valley Bank to help fund its recently completed acquisition of the network search engine processor business of Integrated Device Technologies, Inc, and its working capital and other corporate needs. Silicon Valley Bank arranged the financing with a group of lenders.
NetLogic Microsystems, Inc. Issues Q3 2009 Outlook Above Analysts' Estimates-Conference Call
NetLogic Microsystems, Inc. announced that for third quarter of 2009, it expects revenue to total $46 million and non-GAAP earnings per share (EPS) to be $0.32. According to Reuters Estimates, analysts were expecting the Company to report revenues of $34 million and EPS of $0.27 for the same period.
NetLogic Microsystems, Inc. Completes Acquisition of Network Search Engine Assets from Integrated Device Technology Inc.
NetLogic Microsystems, Inc. announced that it has completed its acquisition of certain assets associated with Integrated Device Technology Inc.`s (IDT) network search engine products. The acquisition includes IDT`s search accelerator, network search engine and route accelerator product families and related patents and intellectual property. Under the terms of the agreement, the Company paid IDT $90 million in cash plus an additional $10 million in cash for the cost of inventory which will be adjusted subsequent to the closing to reflect the actual inventory on hand.
