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AMCC Reports Q4

SUNNYVALE, Calif. -- Applied Micro Circuits Corporation (Nasdaq:AMCC) today reported its financial results for the fourth quarter of fiscal 2007.

Net revenues for the fourth quarter of fiscal 2007 were $70.2 million compared to $76.6 million reported in the third quarter of fiscal 2007 and $67.0 million reported in the fourth quarter of fiscal 2006.

Net revenues for the year ended March 31, 2007 were $292.9 million compared to $261.8 million reported for the year ended March 31, 2006.

The net loss on a generally accepted accounting principles (GAAP) basis for the fourth quarter of fiscal 2007 was $5.3 million or $(0.02) per share. The fourth quarter GAAP net loss compares with a net loss of $4.2 million or $(0.01) per share for the third quarter of fiscal 2007 and a net loss of $138.3 million or $(0.47) per share for the fourth quarter of fiscal 2006. The GAAP net loss for the year ended March 31, 2007 was $24.2 mill ion or $(0.09) per share, compared to the net loss of $148.4 million or $(0.49) per share for the year ended March 31, 2006.

The non-GAAP net income for the fourth quarter of fiscal 2007 was $2.8 million or $0.01 per share, compared to the non-GAAP net income of $9.0 million or $0.03 per share in the third quarter of fiscal 2007 and the non-GAAP net income of $6.0 million or $0.02 per share in the fourth quarter of fiscal 2006. The non-GAAP net income for the year ended March 31, 2007 was $30.3 million or $0.11 per share, compared with the non-GAAP net income of $17.9 million or $0.06 per share for the year ended March 31, 2006.

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