Date: 27/01/2009

PLX Technology revenues for the 4th quarter fiscal 08 are down by 32% to $14.2 million

PLX Technology's revenues for the fourth quarter ended December 31, 2008 were $14.2 million, a 32 percent decrease compared to the $20.8 million reported in the third quarter ended September 30, 2008, and a 36 percent decrease from the $22.1 million reported in the fourth quarter ended December 31, 2007.
"As with many companies in our industry, our revenue performance was directly impacted by our channel partner inventory reductions and broad-based decline in our customers' demand," said Ralph Schmitt, president and CEO of PLX. "While the economic environment is unpredictable, PLX continues its focus on executing to deliver new products and have PLX technology designed into our customers' products. With this focus we will come out of this downturn stronger and in a better position against the competition."

Net loss for the fourth quarter ended December 31, 2008, was $58.3 million, or $2.08 per share (diluted). This compares to net income of $798,000, or $0.03 per share (diluted), for the third quarter ended September 30, 2008. Net loss for the 12 months ended December 31, 2008, was $56.5 million or $2.00 per share (diluted), compared to net income of $1.2 million, or $0.04 per share (diluted), for the 12 months ended December 31, 2007.

The Company's gross margin for the fourth quarter ended December 31, 2008, was 59.4 percent, as compared with 58.5 percent for the third quarter ended September 30, 2008. Gross margin for the 12 months ended December 31, 2008, was 59.6 percent as compared with 60.6 percent for the 12 months ended December 31, 2007.