SAN FRANCISCOChip vendor PLX Technology Inc. reported a net income of $2.6 million on revenue of $26.6 million for the fourth quarter of 2009. The company announced record revenue for the year of $82.8 million.
Quarterly revenue grew 24 percent sequentially and 87 percent year-to-year,
PLX (Sunnyvale, Calif.) said.
The net income compared to net losses for the previous quarter and year-ago quarter of $1.9 million and $58.3 million, respectively, PLX said.
Revenue for full year 2009 was up 2 percent compared with 2008. The company reported a loss for the year of $18.8 million, narrowed from a net loss of $56.5 million for 2008.
"It was a difficult year but ended very positively for the company, which we believe provides a good launching point for 2010," said Ralph Schmitt, president and CEO of PLX, in a statement.
PLX said it expects first quarter revenue to be between $27 million and $29 million.