Inphi reports record revenue, declining losses in 2020
Inphi, a Santa Clara semiconductor company with sizable operations in Thousand Oaks, reported record revenue for the fourth quarter of 2020 and a smaller net loss than the same quarter a year earlier.
Inphi, which reported its earnings on Feb. 2, is in the midst of being acquired by Marvell Technology Group, a larger competitor also based in Silicon Valley. The $8 billion deal is expected to close in the second half of this year.
For the quarter ended Dec. 31, Inphi had $187.5 million in revenue, up 82.3% from a year earlier. The increase was due to higher demand for cloud and telecommunications products, the company said, and due to the inclusion of revenue from eSilicon, a company it acquired in early 2020.
Inphi’s net loss for the quarter was $12 million, or 23 cents per common share, down from a loss of $13.4 million a year earlier, or 29 cents per share. Operating loss in the fourth quarter was $2.5 million, or 1.3% of revenue, an improvement over operating losses of $8.8 million, or 8.6% of revenue, a year earlier.
For the full year of 2020, Inphi reported revenue of $683 million, up 86.8% from 2019. The company’s net loss in 2020 was $59.7 million, or $1.20 per share, compared to a loss of $72.9 million, or $1.61 per share, in 2019.
“We are very pleased to report another record revenue quarter, demonstrating 82% growth year-over-year, driven by strength from acquisitions as well as across all segments, highlighted by cloud revenue, which grew an impressive 69% year-over-year. Additionally, looking at our annual results in 2020 more than half of our growth was organic, growing 46% year-over-year, clearly outpacing broader industry growth projections,” Inphi President and CEO Ford Tamer said in the company’s earnings release.