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PLX Technology Closes Q4

SUNNYVALE, Calif. — PLX Technology, Inc. (NASDAQ: PLXT), a leading global supplier of software-enriched silicon for the enterprise and consumer markets, today announced fourth quarter revenues of $27.8 million and a net loss of $7.6 million, or $0.17 per share (diluted).For 2010, the company reported revenue of $116.6 million and a net loss of $3.3 million or $0.08 per share (diluted).

“Due to customer inventory digestion, our revenue results in the fourth quarter fell short of our expectations,” said Ralph Schmitt, president and CEO of PLX. “However, higher than expected gross margin and lower than expected spending produced non-GAAP operating income close to our expectations. The fundamentals of our business remain strong as our design win activity and closure rate are very robust, positioning us well for 2011. In the quarter we also had some major OEMs in trials with our leading-edge products in USB3.0, Gen 3 PCI Express® and 40nm 10 Gigabit Ethernet.”

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