![]() We recorded record non-GAAP earnings per share of $0.62, above the midpoint of our original guidance of $0.47, an 88% increase over the $0.33 in non-GAAP earnings per share reported one year ago. Also, revenue contribution from our January 10 acquisition of eSilicon was slightly higher than originally anticipated. This higher result in the first quarter was due primarily to higher revenue than anticipated from our Cloud customers. Inphi had record revenue of $139 million in the first quarter of 2020, which was a 70% increase over last year's Q1 revenue of $82 million and exceeded our original guidance midpoint of $132 million. Now let's look at our Q1 results and Q2 guidance. We continue to work with our suppliers to meet the increasing demand for our products. The industry is currently experiencing significantly longer lead times in some areas of the supply chain, and we have notified our customers of these issues. Nonetheless, we have implemented contingencies in some supply chain areas. To date, we have not experienced any major material disruptions. Our product pipeline is intact, and we are increasing our R&D investments and continuing to hire. We always measure our employee productivity and discovered that in some cases, efficiency increased as a result of work from home measures. I'm pleased to say that these monitoring efforts yielded positive results and feedback. We set up a corporate task force and began monitoring our employees, our customers, our production and our supply chain. We could dedicate hours walking you through examples of how bandwidth demand has increased due to COVID, and we encourage you to read our blogs accessible from the Inphi homepage at As some of you know, our Inphi sites in Wuhan, China and Pavia, Italy gave us a view of the pandemic as early as January. And despite their extreme dislocations over the past couple of months, Inphi is enabling them to connect everyone, everywhere. Our cloud and telecom customers have witnessed a large spike in bandwidth demand for their applications. We move data not just for commerce, but also within communities, metro areas, countries and around the world. Never before has our mission been more important to the lives of everyone impacted by this pandemic. Simply put, we are in the bandwidth business. Inphi mission continues to be the global leader in high-speed data movement interconnect. At many companies, Inphi included, we are very grateful to our own critical employees who enter the workplace to maintain basic operations through these challenges.Įnsuring the safety of our employees and our customers remains our No. We also recognize the many service employees working in our communities, providing the basic needs for the rest of us. The medical professionals, first responders, emergency personnel and law enforcement officers who put themselves in jeopardy on the front line every day in their relentless effort to keep the rest of us safe.Įvery last one of them is a hero, and every last one deserves all the gratitude and appreciation we can demonstrate. ![]() ![]() First, to thank the true heroes of the past few months. Before I begin, let me take a few moments to discuss the unprecedented global impact of COVID-19. ![]() Thanks, Vern, and thank you for joining us for Inphi's first-quarter 2020 earnings update. On our call, I will first provide the safe harbor, then Ford will give you an overview of our business.įord Tamer - President and Chief Executive Officer With me today is Inphi's president and CEO, Ford Tamer and Inphi's chief financial officer, John Edmunds. A copy of today's press release can be found in the Investor Relations portion of Inphi's website at /investors. Good afternoon, everyone, and thank you for joining us today to discuss the financial results for the first quarter of 2020. Vern Essi - Senior Director of Investor Relations and Corporate Development I would now like to introduce your host for today's conference, Vern Essi, senior director of investor relations and corporate development. As a reminder, this conference may be recorded. Good day, ladies and gentlemen, and welcome to Inphi's first-quarter 2020 conference call. ![]()
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