Exar Corp. reported a net loss of $3.3 million, or ($0.08) per share, in the fourth quarter of fiscal 2010, which ended 3/28/2010. The company reported a net loss of $4.6 million, or ($0.11) per share, in the corresponding quarter of 2009.
Exar Corporation reported a large increase in revenue for the fourth quarter of fiscal 2010. The company had revenues of $38.5 million, compared to revenues of $23.9 million in the same quarter of 2009.
Despite the GAAP loss in the final quarter of fiscal 2010, the management of Exar Corporation seemed optimistic on the upcoming fiscal year. Pete Rodriguez, the CEO of Exar Corporation, said, “Our business is improving across all product lines and we achieved positive non-GAAP operating income for the first time since 2007.”
Exar Corporation ended the fiscal year with cash and marketable securities of $212.1 million. The company has no short or long term debt.
Exar Corporation also reported guidance for fiscal 2011. The company expects revenue to range from $39-41 million in the first quarter of fiscal 2011, and that full year fiscal 2011 revenue will increase by 20-30% over fiscal 2010.
For more information on the company, visit www.exar.com