SAN JOSE, Calif., Jan. 27,
2016 -- Cavium, Inc. (NASDAQ: CAVM), a leading provider of semiconductor
products that enable secure and intelligent processing for enterprise, data
center, cloud, wired and wireless networking, today announced financial results
for the fourth quarter endedDecember 31, 2015.
Net revenue in the fourth quarter
of 2015 was $100.9 million, a 3.9% sequential decrease from the $105.1
million reported in the third quarter of 2015 and relatively flat from the $101.2
million reported in the fourth quarter of 2014.
Generally Accepted Accounting
Principles (GAAP) Results
Net loss in the fourth quarter of
2015 was $1.0 million, or $(0.02) per diluted share, compared to
net income of $4.2 million, or $0.07 per diluted share in the
third quarter of 2015. Gross margins were 66.2% in the fourth quarter of 2015
compared to 65.5% in the third quarter of 2015. Total cash and cash equivalents
were $134.6 million at December 31, 2015.
Non-GAAP Results
Cavium believes that the presentation of non-GAAP financial
measures provides important supplemental information to management and
investors regarding financial and business trends relating to Cavium's
financial condition and results of operations. These measures should only be
used to evaluate Cavium's results of operations in conjunction with the
corresponding GAAP measures. The reconciliation between GAAP and non-GAAP
financial results is provided in the financial statements portion of this
release.
In the fourth quarter of 2015,
Non-GAAP net income was $16.6 million, or $0.28 per diluted
share. Non-GAAP gross margin was 66.6% and Non-GAAP operating margin (non-GAAP
income from operations as a percentage of revenue) was 17.1%.
Recent News Highlights
·
November 16, 2015 - Cavium and
Leading Partners Showcased ThunderX™ ARMv8-based Server Platforms for Next
Generation Cloud Data Center at ARM TechCon 2015
·
November 16, 2015 - Cavium's
ThunderX Workload Optimized Processors received Readers' and Editors' Choice
Award for Top 5 New Products or Technologies to Watch from HPCwire
·
November 16, 2015 - E4 Computer
Engineering announced production availability and customer shipment of ARKA
Server Platforms with Cavium ThunderX™ ARMv8 Workload-Optimized Processors
·
November 16, 2015 - Cavium
Announced Collaboration with Bright Computing to Support the ThunderX™
Processor Family
·
November 16, 2015 - Penguin
Computing Announced Availability and Customer Shipments of Tundra Extreme Scale
Valkre Servers Based on Cavium ThunderX™ Workload Optimized Processors
·
November 16, 2015 - Wistron
Announced New Server Platforms based on Cavium's ThunderX™ Workload-Optimized
Processor Family
·
November 16, 2015 - Inventec
Enables Hadoop, Cloud Computing and Hyperscale Workloads with new K850G3 Server
Platforms with Cavium ThunderX™ Workload Optimized Processors
·
November 16, 2015 - GIGABYTE
Announced Availability and Production Shipments of Extensive Cavium ThunderX-based
Server Portfolio
·
November 9, 2015 - Cavium and
Pica8 Partners to Deliver Leading Edge Open Networking Solutions
Cavium, Inc. will broadcast its
fourth quarter of 2015 financial results conference call today, January
27, 2016, at 2 p.m. Pacific time (5 p.m. Eastern time). The
conference call will be available via a live web cast on the investor relations
section of the Cavium website at http://www.cavium.com. Please access the website at least a
few minutes prior to the start of the call in order to download and install any
necessary audio software. An archived web cast replay of the call will be
available on the web site for a limited period of time.
About Cavium
Cavium is a leading provider of
highly integrated semiconductor products that enable intelligent processing in
enterprise, data center, cloud and wired and wireless service provider
applications. Cavium offers a broad portfolio of integrated,
software-compatible processors ranging in performance from 100 Mbps to 100 Gbps
that enable secure, intelligent functionality in enterprise, data-center,
broadband/consumer and access and service provider equipment. Cavium's
processors are supported by ecosystem partners that provide operating systems, tool
support, reference designs and other services. Cavium's principal office is in San
Jose, CA with design team locations in California, Massachusetts, India and China.
For more information, please visit:http://www.cavium.com.