Cavium Posts Second Quarter Results [Health & Beauty Close - Up]
(Health & Beauty Close - Up Via Acquire Media NewsEdge) Cavium reported financial results for the second quarter ended June 30.
In a July 30 release, the company reported that revenue in the second quarter of 2014 was $90.7 million, an 8.9 percent sequential increase from the $83.2 million reported in the first quarter of 2014 and a 22.2 percent year-over-year increase from the $74.2 million reported in the second quarter of 2013.
Generally Accepted Accounting Principles (GAAP) Results
Net loss attributable to the Company in the second quarter of 2014 was $11.0 million, or $(0.21) per diluted share, compared to net income attributable to the Company of $2.3 million, or $0.04 per diluted share in the first quarter of 2014. Gross margins were 62.6 percent in the second quarter of 2014 compared to 63.5 percent in the first quarter of 2014. Total cash and cash equivalents were $140.6 million at June 30.
In the second quarter of 2014, Non-GAAP net income was $19.9 million, or $0.35 per diluted share, Non-GAAP gross margin was 64.5 percent and Non-GAAP operating margin (non-GAAP income from operations as a percentage of revenue) was 22.3 percent.
Cavium is a provider of semiconductor products that enable intelligent processing for networking, communications and the digital home.
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