Exar Corp. reported financial results for its fiscal 2011 third quarter ended December 26, 2010. Net sales for the third quarter of fiscal 2011 were $35.4 million compared to net sales of $37.2 million for the prior quarter and $33.9 million for the third quarter of fiscal 2010. The GAAP gross margin for the third quarter of fiscal 2011 was 45.5% compared to 46.4% for the prior quarter and 50.2% in the third quarter of fiscal 2010. On a non-GAAP basis, gross margin for the third quarter of fiscal 2011 was 50.0% compared to 50.8% for the prior quarter and 54.1% in the third quarter of fiscal 2010.
The GAAP net loss for the third quarter of fiscal 2011 was $5.0 million, or $0.11 net loss per share, compared to a net loss of $4.5 million, or $0.10 net loss per share, in the prior quarter, and a net loss of $3.8 million, or $0.09 net loss per share, for the third quarter of fiscal 2010.