UPDATE 1-PLX Technology Q4 beats, sees strong Q1 rev; shares up

* Q4 adj Eps $0.09 vs est of $0.01

* Q4 rev $26.6 mln, up 87 pct

* Sees Q1 rev $27.00 mln-$29 mln vs est of $23.5 mln

* Shares rise as much as 14 pct in after-market trade

Jan 25 (BestGrowthStock) – PLX Technology Inc (PLXT.O: ) posted
better-than-expected quarterly results, helped by strong sales
at its enterprise customers and lower expenses, and forecast
first-quarter revenue above analysts’ estimates, sending its
shares up by as much as 14 percent.

“Enterprise customers drove the growth in the quarter, much
of which was driven by the build-out of data centers to support
cloud-based applications,” Chief Executive Ralph Schmitt said
in a statement

The company, which makes and supplies chip devices that
accelerate and manage the transfer of data, forecast
first-quarter revenue of $27 million to $29 million, ahead of
analysts’ estimates of $23.5 million, according to Thomson
Reuters I/B/E/S.

The company posted a fourth-quarter profit (Read more your timing to make a profit.) of $2.6 million,
or 7 cents a share, compared with a loss of $58.4 million, or
$2.08 per share, a year ago.

Revenue rose to $26.6 million, while total operating
expenses fell 80 percent to $13.4 million.

Excluding special items, the company earned 9 cents a
share.

Analysts on average were looking for earnings of a penny a
share, excluding special items, on revenue of $24 million.

Shares of the Sunnyvale, California-based company were at
$4.40, up 10 percent in after-market trade. They closed at
$3.99 Monday on Nasdaq.

Growth Stocks

(Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by
Jarshad Kakkrakandy)

UPDATE 1-PLX Technology Q4 beats, sees strong Q1 rev; shares up