EZchip registers increase in quarterly revenue

EZchip Semiconductor, a supplier of Ethernet network processors, has announced total revenues in the first quarter of 2010 of $13.6m (£9.1m), an increase of 38 per cent compared with $9.8m in the first quarter of 2009 and an increase of six per cent compared with $12.9m in the fourth quarter of 2009.

Net income on a GAAP basis was $2.9m, or $0.11 per share, compared with net income of $1.4m, or $0.05 per share, in the first quarter of 2009 and net income of $14.9m, or $0.58 per share, in the fourth quarter of 2009.

Net income on a non-GAAP basis was $6m, or $0.23 per share, compared with non-GAAP net income of $3.3m, or $0.13 per share, in the first quarter of 2009 and non-GAAP net income of $5.5m, or $0.22 per share, in the fourth quarter of 2009.