Weighed down by charges, networking company Cavium posts 4Q loss despite increase in sales

Networking company Cavium posts 4Q loss on charges

MOUNTAIN VIEW, Calif. — Semiconductor maker Cavium Networks Inc. on Thursday posted a loss nearly identical to its year-ago loss despite a 45 percent jump in revenue as results were weighed down by charges.

The company lost $4.5 million, or 11 cents per share, compared with a loss of $4.4 million, or 11 cents per share, a year earlier.

Without items including stock-based compensation costs and amortization of intangibles, the company said it would have earned $3.8 million, or 8 cents per share.

Analysts, who usually exclude items from their forecasts, had expected a gain of 7 cents per share excluding items, according to Thomson Reuters.

Revenue rose to $32.1 million from $22.2 million a year ago, and beat analysts’ forecast of $30.9 million.

The company said it experienced record bookings and that new products are in early stages at some customers.

The Mountain View company makes semiconductor products for networking and communications.

Its shares fell 71 cents, or 3.1 percent, to $22.19 in regular trading before the report. In extended trading, they gained 4 cents to 22.23.