Applied Micro Circuits, which warned it was planning a “restructuring” without giving any details when it filed its earnings late last month, provided some in a filing with the SEC late Thursday.
The company’s board approved a restructuring plan Jan. 27 that includes letting go of “slightly over 100 people.” In October the company announced it would Read the rest of this entry »
The board of directors at Applied Micro Circuits (Nasdaq:AMCC) approved a $100 million stock repurchase program Wednesday, the company revealed in a quarterly filing today. Details of the program “are still to be determined.”
The amount is about a third of the company’s total market value as of Friday. It is also slightly more than half of the Sunnyvale chip maker’s total Read the rest of this entry »
As it did just about this time last year, Applied Micro Circuits told some of its employees today they had to go, according to a regulatory filing Monday, as the company enacted its sixth restructuring in four years. The move affects about 5 percent of its work force, which numbered 583 at the end of its last fiscal year on March 31, meaning that about 29 employees got pink slips today.
The company’s board of directors approved the plan back on Aug. 20 and says that it expects to incur cash charges of about Read the rest of this entry »
Applied Micro Circuits has sold a series of patents, patent applications and associated rights to some of its technologies to wireless chip maker Qualcomm for $33 million to be paid over the next three years, according to a filing with the SEC today. Applied Micro will retain the non-exclusive right to make and sell its existing products that use technology covered by the patents.
The contract terms include a provision under which Qualcomm could withhold Read the rest of this entry »
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