EZchip Semiconductor reports fourth-quarter results

Ethernet network processor provider EZchip Semiconductor has announced its results for the fourth quarter and full year ended 31 December 2010.

Total revenues in the fourth quarter of 2010 were $17.1m (£10.6m), an increase of 33 per cent compared to $12.9m in the fourth quarter of 2009 and an increase of five per cent compared to $16.4m in the third quarter of 2010.

Net income on a GAAP basis for the fourth quarter of 2010 was $4m, compared to net income of $14.9m in the fourth quarter of 2009 and of $4.5m in the third quarter of 2010.

Net income on a non-GAAP basis for the fourth quarter of 2010 was $8.6m, or $0.31 per diluted share, compared to non-GAAP net income of $5.5m, or $0.22 per diluted share, in the fourth quarter of 2009.