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Microchip, MIPS, TriQuint and Zarlink separately posted mixed results for the quarter.

Posted by iNext - 2005-10-21

Microchip Technology Inc., a provider of microcontroller and analog semiconductors, said sales for the second quarter of fiscal 2006 were a record $227.3 million, up 4.0 percent sequentially from $218.5 million in the immediately preceding quarter, and up 3.0 percent from sales of $220.7 million in the prior year's second quarter.

GAAP net income for the second quarter of fiscal 2006 was a record $65.7 million, or $0.31 per diluted share, up 7.6 percent from GAAP net income of $61.0 million, or $0.29 per diluted share, in the immediately preceding quarter; and up 8.6 percent from GAAP net income of $60.4 million, or $0.29 per diluted share, in the prior year's second quarter.

"All product segments grew sequentially in the September 2005 quarter, allowing Microchip to achieve record net sales levels overall, as well as record microcontroller sales," said Steve Sanghi, Microchip's president and CEO, in a statement. "Asia was our fastest growing geography during September, achieving record sales levels of $101 million, representing over 44 percent of our overall business."

Net sales for the third fiscal quarter ending Dec. 31, 2005, are currently anticipated to be approximately $234 million, up approximately 3 percent from the September 2005 quarter. Earnings per diluted share for the third fiscal quarter ending Dec. 31, 2005, are anticipated to be approximately $0.32.

Wireless vendor posts profit


TriQuint Semiconductor Inc. said sales for the third quarter ended September 30, totaled $75.2 million, an increase of 11 percent from $67.9 million in the previous quarter. It posted sales of $81.6 million in the like period a year ago.

It posted net income of $2.6 million, or $0.02 per diluted share, for the third quarter ended September 30, 2005, $0.01 above the guidance. This compares to $6.2 million, or $0.04 a share, in the previous period, and a loss of $4.1 million, or minus $0.03 a share, a year ago.

In a statement, Ralph Quinsey, president and CEO, stated, "TriQuint Semiconductor benefited from increased shipments to the CDMA handset market and the military market as both returned to more normal demand levels in the third quarter.”

Revenues for the fourth quarter of 2005 are expected to increase 10-to-13 percent from the third quarter of 2005 due to increased sales of products for wireless phones. It is projecting earnings per share for the fourth quarter of 2005 to range from $0.01-to-$0.03 per diluted share.

MIPS sales drop


MIPS Technologies Inc. said revenue for the first quarter of fiscal 2006 was $11.9 million compared to $14.6 million for the same quarter a year ago.

Net loss for the first quarter of fiscal 2006 on a generally accepted accounting principles basis was $3.9 million compared to a net income of $3.1 million for the same quarter a year ago. GAAP net loss per share for the first quarter of fiscal 2006 was $0.09 compared to a net income per share of $0.07 on a fully diluted basis for the same quarter a year ago.

"The growth in our royalty revenue is encouraging as the MIPS architecture continues to be the processor architecture of choice in key growth markets such as digital consumer and networking," said Casey Eichler, chief financial officer of MIPS Technologies, in a statement. "We are disappointed however by the licensing revenue realized in the first quarter and are taking actions to strengthen and build up our pipeline of prospective licensees."

Zarlink down


Zarlink Semiconductor Inc. said second quarter revenue was $46.9 million, compared with $45.5 million in the prior quarter, and $58.8 million in the second quarter of fiscal 2005. Revenues were higher in the consumer communications business unit and down marginally in both network communications and ultra low-power communications.

Zarlink recorded a second quarter net loss of $2.3 million or minus $0.02 per share. In the fiscal 2005 second quarter, the company reported a net profit of $3.2 million, or $0.02 per share, which included a $2.9 million gain on a note receivable.

Zarlink is forecasting that third quarter revenues, excluding RF front-end revenues, will be between $34-to-$36 million. Zarlink expects third quarter earnings of between breakeven and US$0.01 per share.



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