SAN FRANCISCOPLX Technology Inc. reported that second quarter sales increased by 10 percent compared to the first quarter, thanks largely to revenue from PCI Express and storage ICs.
"We have made excellent progress this quarter as we have seen a positive turnaround in the revenue trend," said Ralph Schmitt, PLX CEO, in a statement.
Net revenue for the second quarter was $18.2 million, up 10 percent from $16.5 million in the first quarter but down 22 percent compared to $23.4 million in the second quarter of 2008, PLX Tech (Sunnyvale, Calif.) said.
The company posted a net loss in accordance with generally accepted accounting principles (GAAP) for the second quarter of $9.1 million, or 26 cents per diluted share. This compares with a net loss of $10.5 million (31 cents per share) in the first quarter and a net loss of $75,000 in the year ago quarter, PLX Tech said.
"Actual consumer storage end-product demand has improved and is leading our revenue recovery," said Schmitt. "PCI Express revenue was flat, but our mix changed with communications-based customers growing, thus adding a positive trend of greater and more diverse adoption."
PLX Tech projects that its third quarter revenue will increase to between $19 million and $22 million.