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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • PLX Technology Revenue And Earnings Decline 0 comments
    Apr 22, 2014 10:35 AM | about stocks: PLXT

    Originally published at www.seclive.com

    PLX Technology Inc. (NASDAQ:PLXT) announced its first quarter financial results for the fiscal year 2014, posting a decline in both revenue and earnings. The silicon and software connectivity solutions company reported a dip in net revenue from $26.2M to $24.8M while net income fell from $2.6M and $0.06 per share to $2.2M and $0.05 per share. The company explained its decrease in revenue was from a key customer shifting to a vendor managed inventory (NYSE:VMI) program where it expended more of its own inventory instead of the VMI program. This change is expected to only have a temporary impact on first quarter and will not impact future quarters. President and CEO David Raun commented that product demand remains high and that all business segments are expected to post improvements in second quarter.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: PLXT
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