Semiconductor maker Exar Corp. said that its board of directors have decided to evaluate a range of strategic options to enhance shareholder value. The company said Cowen & Co. is acting as its financial advisor. Separately, the company reported a fiscal fourth-quarter net loss of $2.9 million, or 6 cents a share, compared with a profit of $147,000, or breakeven on a per share basis, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share of 11 cents matched the FactSet consensus. Revenue rose 57% to $43.9 million, but fell shy of the FactSet consensus of $45.9 million. The stock, which slipped 0.5% in after-hours trade, has lost 1.5% year to date, while the S&P 500 has gained 2%.
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