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National Instruments reported quarterly revenue for the first quarter of 2010 of $191 million, representing a 21% year-over-year increase and a 5% sequential decline. Net income for the quarter was $18,4 million, with GAAP fully diluted earnings per share (EPS) of $0,23, matching a first quarter record the company set in Q1 2007. Non-GAAP net income was $22 million, with non-GAAP fully diluted EPS of $0,28, matching a first quarter record the company set in Q1 2008.
Molex’s revenue for the March 2010 quarter of $756,3 million increased 3,7% from the December 2009 quarter and 49,6% from the March 2009 quarter. Orders for the quarter were $838 million, an increase of 7,7% from the December 2009 quarter and 76,6% from the prior year quarter. Net income for the March 2010 quarter was $23,8 million or $0,14 per share, compared with net income of $19,3 million or $0,11 per share, for the December 2009 quarter.
Mentor Graphics announced results for the fiscal first quarter ending 30 April 2010, with revenues of $180,6 million and GAAP net loss of $23 million or $0,22 per share. These figures compare to first quarter 2009 revenues of $193,8 million and GAAP net loss of $13 million or $0,14 per share.
Melexis reported revenues for the first quarter of 2010 of 46,4 million Euros, an increase of 106% compared to the same quarter of the previous year and an increase of 10% compared to the previous quarter. Net profit was 8,1 million Euros, 19 cents per share, up from an 8 cent loss per share in the first quarter of 2009. Net profit increased by 33% compared to the previous quarter.
Sales for Littelfuse’s first 2010 quarter of 2010 were $144,4 million, a 71% increase compared to the first quarter of 2009 and a 13% increase from the fourth quarter of 2009. Diluted earnings per share for the first quarter of 2010 were $0,69, compared to a loss of $0,36 per diluted share for the first quarter of 2009. The large improvement in earnings compared to the prior year was due to significantly higher sales and an improved cost structure.
Linear Technology reported financial results for the quarter ended 28 March 2010. Record quarterly revenues of $311,3 million for the third quarter of fiscal year 2010 increased $55,0 million or 21% compared to the previous quarter’s revenue of $256,4 million and increased $110,4 million or 55% over $200,9 million reported in the third quarter of fiscal year 2009. Net income of $100,6 million increased $25,1 million or 33% over the second quarter of fiscal year 2010 and increased $51,3 million or 104% over the third quarter of fiscal year 2009. Diluted earnings per share of $0,44 increased $0,11 per share or 33% over the second quarter of fiscal year 2010 and increased $0,22 per share or 100% over the third quarter of fiscal year 2009.
LeCroy reported third-quarter fiscal 2010 revenue of $33,6 million, compared with $31,0 million in the second quarter of fiscal 2010 and $26,9 million in the third quarter of fiscal 2009. The company also reported GAAP gross margin of 59,8%, GAAP operating income of $960 000, and GAAP net income of $330 000, or $0,03 per diluted share, for the third quarter of fiscal 2010. This compares with GAAP gross margin of 53,1%, a GAAP operating loss of $5,2 million and GAAP net income of $1,6 million, or $0,13 per diluted share, in the year-ago period.
IXYS reported net revenues of $76,6 million for the fourth fiscal quarter ended 31 March 2010, a 31,4% increase as compared with net revenues of $58,2 million for the same period in the prior fiscal year. March 2010 quarter revenues increased 19,6% over the December quarter’s $64,0 million revenues, marking three consecutive quarters of revenue growth. For the 12 months ended 31 March 2010, IXYS reported net revenues of $243,2 million, as compared with net revenues of $273,6 million for the same period in the prior fiscal year. Net income for the quarter ended 31 March 2010 was $4,0 million, or $0,13 per diluted share, as compared to a net loss of $10,9 million, or $0,36 loss per share, for the same quarter in the prior fiscal year. Net loss for the fiscal year was $677 000, or $0,02 loss per share, as compared to net loss of $3,3 million, or $0,11 loss per share, for the same period in the prior fiscal year.
Announcing its financial results for the first quarter of 2010 ended 2 April, Intersil reported net revenues of $189,4 million, a 60% increase from $118,2 million in the first quarter of 2009 and a 7% increase from $177,7 million in the fourth quarter of 2009. Revenues by end market were as follows: high-end consumer, 19,9% of revenues; computing, 32,3% of revenues; industrial, 23,9% of revenues; and communications, 23,9% of revenues. Net income was $27,7 million, or $0,22 per diluted share, compared with $2,4 million, or $0,02 per diluted share in the same quarter last year, and net income of $17,7 million, or $0,14 per diluted share, in the fourth quarter of 2009.
International Rectifier announced financial results for the third quarter (ended 28 March 2010) of its fiscal year 2010. Revenue was $241,9 million, a 15,1% increase from $210,2 million in the second quarter of fiscal year 2010 and a 65% increase from $146,6 million in the third quarter of fiscal year 2009. Net income was $40,4 million, or $0,56 per fully diluted share for third quarter fiscal year 2010, compared with a net income of $28,3 million, or $0,39 per fully diluted share, in the prior quarter, and a net loss of $82,6 million, or $1,15 per share in the third quarter of 2009.
Revenue for IDT’s fiscal fourth quarter of 2010 was $138,0 million, compared with $107,4 million reported in the same period one year ago. Revenue for fiscal year 2010 was $535,9 million, compared with $663,2 million in fiscal year 2009. GAAP net income for the fiscal fourth quarter of 2010 was $1,0 million or $0,01 per diluted share, versus a GAAP net loss of $720,7 million or $4,38 per diluted share in the same period one year ago. GAAP net income for fiscal year 2010 was $40,0 million, compared with a GAAP net loss of $1,0 billion in fiscal 2009.
Hittite has reported revenue for the first quarter ended 31 March 2010 of $54,2 million, representing an increase of 41,9% compared with $38,2 million for the first quarter of 2009 and an increase of 24,1% compared with $43,7 million for the fourth quarter of 2009. Net income for the quarter was $16,1 million, or $0,54 per diluted share, an increase of 58,3% compared with $10,2 million, or $0,34 per diluted share, for the first quarter of 2009, and an increase of 20,1% compared with $13,4 million, or $0,45 per diluted share, for the fourth quarter of 2009.
Exar reported net sales for the fourth quarter of fiscal 2010 of $38,5 million, compared to net sales of $33,9 million for the prior quarter and $23,9 million for the fourth quarter of fiscal 2009. GAAP net loss for the fourth quarter of fiscal 2010 was $3,3 million, or $0,08 net loss per share, compared to a net loss of $3,8 million, or $0,09 net loss per share in the prior quarter, and a net loss of $4,6 million, or $0,11 net loss per share, for the fourth quarter of fiscal 2009.
For its first quarter ended 31 March, Diodes Incorporated announced record revenue of $136,8 million, an increase of 75% over the $78,1 million in the first quarter of 2009 and sequential increase of 5% over the $130,3 million in the fourth quarter of 2009. GAAP net income was $15,0 million, or $0,33 per diluted share, compared to first quarter of 2009 net loss of $10,8 million, or $0,26 per share, and fourth quarter of 2009 net income of $14,2 million, or $0,32 per diluted share.
Digi International reported revenue of $45,1 million for the second fiscal quarter of 2010, compared with $40,1 million for the second fiscal quarter of 2009, an increase of 12,5%. Net income was $1,7 million, or $0,07 per diluted share, in the second fiscal quarter of 2010 compared to $0,7 million, or $0,03 per diluted share, in the year ago comparable quarter.
Industry
Databeans has released its 2010 Medical Semiconductors report and projects that total medical electronics revenue will reach $128,6 billion in sales. The home segment of this market continues to grow, with revenue expecting to reach over $16 billion as a result of increased home patient care in an effort to reduce costs of clinical and hospital treatments. The total medical semiconductor market is expected to see healthy growth this year from all three market segments. Databeans classifies clinical, imaging and home. Total sales are expected to reach nearly $3 billion, with $1,8 billion in clinical, $355 million in imaging and over $728 million from home medical applications.
According to the Semiconductor Industry Association, worldwide semiconductor sales in April were $23,6 billion, an increase of 2,2% from March’s figure of $23,1 billion. Sales increased by 50,4% from April 2009 when they were $15,7 billion. Sales for the first four months of 2010 were $92,6 billion compared to $60,1 billion for the like period of 2009, an increase of 54,2%. All monthly sales numbers represent a three-month moving average.
Worldwide semiconductor revenue in 2010 is forecast to reach $290 billion, a 27,1% increase from 2009 revenue of $228 billion, according to the latest outlook by Gartner. The outlook for the semiconductor industry has improved from Gartner’s first quarter 2010 forecast, when it projected only 19,9% growth. Analysts said this improvement in market conditions is in part due to an accelerated broad-based recovery in all regions and most product categories. In this quarter’s update, Gartner raised production forecasts for PCs, mobile phones, automotive and select consumer products. The PC and mobile phone markets will account for about 40% of the semiconductor market’s growth in 2010.
After a year that was decidedly skewed by macroeconomic forces impacting the entire electronics value chain, pure-play foundry suppliers will see revenues in 2010 jump by 39,5%, according to iSuppli. Total pure-play foundry revenue in 2010 is expected to reach $24,8 billion, up from $17,8 billion in 2009. Perhaps more significantly, this year’s projected revenue is also up 24,6% from 2008 levels of $19,9 billion. By 2013, iSuppli forecasts foundry revenue will reach $35,9 billion with a compound annual growth rate of 12,5%.
Technology
Renesas Electronics and Redpine Signals have developed ‘plug-and-play’ 802.11a/b/g/n wireless connectivity solutions that make it easy for system engineers to add single-stream 802.11n Wi-Fi capability to embedded systems that use Renesas’ R8C, RX and SuperH microcontrollers (MCUs). The Connect-io-n 802.11n modules are self-contained, and Renesas customers can readily integrate them into any existing Renesas MCU-based system. The Redpine module products offer SPI and UART interfaces and provide wireless connectivity up to 10 Mbps on the SPI interface, or up to 4 Mbps on the UART interface. Available with an option for TCP/IP and Web applications embedded within the Wi-Fi module, the Connect-io-n modules enable designs to be enhanced with Wi-Fi 802.11n functionality by adding as little as 2 KB of new software and minimal hardware changes in the MCU hardware.
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