South Africa
Although subdued market conditions resulted in no growth in revenue of R5,1 billion, Reunert has increased its operating profit by 9% to R582 million for the six months ended 31 March. An interim cash dividend of 67 cents per share, up 3% on last year, was declared. While Nashua’s revenue grew by 7%, CBI-Electric experienced an 18% revenue decline. Reutech’s revenue from defence related equipment increased by 37% to R386 million.
Otto Marketing and Otto Wireless Solutions have decked out their reception area with the flags of every nation competing in the 2010 FIFA World Cup, and all members of staff received official Bafana Bafana shirts.
Overseas
Business
Monolithic Power Systems announced financial results for the quarter ended 31 March 2010. Net revenues were $50,3 million, up 8,0% sequentially from $46,5 million in the fourth quarter of 2009 and up 71,4% from $29,3 million in the first quarter of 2009. GAAP net income was $6,4 million, with GAAP earnings per share of $0,17 per diluted share.
Reporting its financial results for the second quarter of its 2010 fiscal year, which ended 1 May 2010, Analog Devices announced revenue of $668 million, an increase of 11% from the immediately prior quarter and an increase of 41% from the same period one year ago. Diluted earnings per share (EPS) from continuing operations were $0,55, compared to $0,39 in the immediately prior quarter, and $0,18 in the same period a year ago. Excluding restructuring charges in prior periods, diluted EPS from continuing operations was $0,43 in the immediately prior quarter and $0,21 in the same period a year ago.
TSMC announced its net sales for April 2010: on an unconsolidated basis, net sales were approximately NT$32,68 billion, an increase of 6,0% over March 2010 and an increase of 50,3% over April 2009. Revenues for January through April 2010 totalled NT$121,86 billion, an increase of 105,5% compared to the same period in 2009. On a consolidated basis, net sales for April 2010 were approximately NT$33,81 billion, an increase of 5,9% over March 2010 and an increase of 50,6% over April 2009. Revenues for January through April 2010 totalled NT$126,00 billion, an increase of 103,4% compared to the same period in 2009.
Xilinx announced fiscal 2010 sales of $1,83 billion, essentially flat with sales from the prior fiscal year. Fiscal 2010 net income decreased 1% to $357,5 million, or $1,29 per diluted share, versus fiscal 2009 net income of $361,7 million, or $1,31 per diluted share. Fourth quarter fiscal 2010 sales were $529,0 million, up 3% sequentially and up 34% from the fourth quarter of the prior fiscal year. Fourth quarter fiscal 2010 net income was $148,5 million, or $0,54 per diluted share, including previously announced pre-tax restructuring charges totalling $2,8 million, or $0,01 per diluted share.
Vishay announced that revenues for the fiscal quarter ended 3 April 2010 were $640,5 million, compared to $449,5 million in the same quarter last year. The net income attributable to Vishay stockholders for 1Q10 was $45,4 million, or $0,24 per diluted share, compared to a net loss of $29,1 million, or $0,16 per share for the same quarter last year.
Tyco Electronics reported results for the fiscal second quarter ended 26 March 2010. The company reported a net sales increase of 27% year-over-year, and 2% sequentially, to $2,96 billion. GAAP EPS were $0,66 for the quarter, compared to a loss per share of $7,07 in the prior-year period. Included in the GAAP EPS were $0,02 per share of restructuring and other charges and $0,04 per share of income related to tax items. This compares to $7,21 per share of net charges in the prior-year quarter. Adjusted EPS were $0,64 in the quarter, compared to $0,14 in the prior-year quarter.
Sierra Wireless’ revenue for the first quarter of 2010 was $151,3 million, an increase of 36% compared to $111,4 million in the first quarter of 2009 and an increase of 5% compared to $144,0 million in the fourth quarter of 2009. Growth was driven by an increase in M2M revenue to $88,7 million, up 187% compared to $30,9 million in the first quarter of 2009 and up 15% compared to $77,2 million in the fourth quarter of 2009. This growth was partially offset by a decline in mobile computing revenue to $62,6 million, down 22% compared to $80,5 million in the first quarter of 2009 and down 6% compared to $66,8 million in the fourth quarter of 2009.
Semtech has reported unaudited financial results for the fourth quarter of fiscal year 2010. Net revenues were $85,0 million, up 35,6% from the fourth quarter of fiscal year 2009 and up 13,1% when compared to the third quarter of fiscal year 2010. Net income for the fourth quarter of fiscal year 2010, computed in accordance with GAAP, was $9,5 million or 15 cents per diluted share. GAAP net income was $6,3 million or 10 cents per diluted share in the fourth quarter of fiscal year 2009 and was a loss of $20,9 million or 34 cents per share in the third quarter of fiscal year 2010.
Ramtron reported that total revenue grew 51% to $15,8 million for the first quarter of 2010, compared with $10,5 million for the same quarter last year. Net income for the first quarter of 2010 was $415 000, or $0,02 per share, compared with a net loss of $6,4 million, or $0,24 per share, for the first quarter of 2009.
Power Integrations announced financial results for the quarter ended 31 March 2010. Net revenues for the quarter were $71,5 million, an increase of 8% compared with the prior quarter and 77% compared with the first quarter of 2009. Net income was a record $12,3 million, or $0,42 per diluted share, compared with net income of $9,2 million, or $0,32 per diluted share in the prior quarter and net income of $0,4 million, or $0,01 per share, in the first quarter of 2009.
PLX Technology announced first-quarter 2010 revenues of $28,8 million and net income of $1,5 million, or $0,04 per diluted share. For the first quarter of 2009, revenue was $16,5 million and net loss was $10,5 million, or $0,31 per share, while in the fourth quarter of 2009, revenue was $26,6 million and net income was $2,6 million, or $0,07 per share.
Total revenue for NVE’s fourth quarter of fiscal 2010 increased 19% to $8,18 million, from $6,90 million in the prior-year quarter. The revenue increase was due to a 17% increase in product sales and a 27% increase in contract research and development revenue. Net income for the fourth quarter of fiscal 2010 increased 16% to $3,60 million, or $0,74 per diluted share, compared to $3,11 million, or $0,65 per diluted share, for the prior-year quarter. For fiscal 2010, total revenue increased 20% to $28,1 million from $23,4 million for the prior fiscal year. The increase was due to a 15% increase in product sales and a 50% increase in contract research and development revenue. Net income for fiscal 2010 increased 23% to $12,0 million, or $2,47 per diluted share, compared to $9,78 million, or $2,04 per diluted share, for fiscal 2009.
Companies
MEMSIC recently announced the completion of its acquisition of selected product lines, intellectual property and fixed assets from Crossbow Technology. The acquisition price of $18 million in cash included the non-military portion of Crossbow’s inertial systems business lines and its wireless sensor network (WSN) Mote and eKo environmental monitoring business lines. These business lines accounted for approximately $10 million in sales annually by Crossbow.
Cadence Design Systems and Denali Software, a provider of electronic design automation (EDA) software and intellectual property (IP), announced that the companies have entered into a definitive merger agreement under which Cadence will acquire Denali for $315 million in cash. Denali is expected to have approximately $45 million in cash at closing. In alignment with its EDA360 strategy, this transaction expands Cadence’s solution portfolio to deliver efficient and cost-effective system component modelling and IP integration.
Through its US subsidiary, Kontron has acquired 100% of US company AP Labs Group, which has two operating companies and is regarded as one of the leading system integrators in the areas of defence and aerospace. Kontron anticipates that both new subsidiaries will make an annual revenue of $30 million. The purchase price was not disclosed.
Infineon Technologies has settled its patent infringement claim against Elpida Memory, and both companies have agreed to seek dismissal of all pending patent infringement cases. Infineon initiated proceedings in February this year, when it filed a complaint against Elpida and Elpida’s customers in the US International Trade Commission (ITC). Elpida subsequently filed two lawsuits in the US District Court, Eastern District of Virginia. Infineon and Elpida have settled the dispute through a broad patent cross licence relating to semiconductor technology. The specific terms and conditions of the licence are confidential.
Tektronix has acquired Mixed Signals for an undisclosed amount. Mixed Signals is a provider of digital content monitoring including digital services, transport streams, ad insertion, switched digital video and interactive content. Mixed Signals’ monitoring solutions enable cable and satellite television operators, broadcasters, content aggregators and IPTV providers to future-proof their digital networks.
Industry
Worldwide silicon wafer area shipments increased during the first quarter of 2010 when compared to fourth quarter 2009 area shipments, according to the SEMI Silicon Manufacturers Group (SMG) in its quarterly analysis of the silicon wafer industry. Total silicon wafer area shipments were 2,214 million square inches during the most recent quarter, a 5% increase from the 2,109 million square inches shipped during the previous quarter. The new quarterly total area shipments are 136% greater than first quarter 2009 shipments and at the highest levels since the third quarter of 2008.
Technology
RF Micro Devices has added high-power integrated passive component (IPC) technology to its foundry services portfolio and will begin providing IPC technology to customers of its foundry services business unit in June of this year. RFMD’s IPC technology is complementary to its GaN technology and other power semiconductor technologies, for the design of multichip modules (MCMs). With the company’s IPC technology, foundry services customers can design integrated matching networks and other passive functions on RFMD’s low-cost gallium arsenide (GaAs) process technology, rather than place them adjacent to amplifiers and other active components. IPC technology provides all of the passive circuit components necessary to enable matching networks, including MIM capacitors, multilayer stacked capacitors, thin-film resistors and inductors. Additionally, three metal interconnect layers are available for complex routing and increased current-handling capability.
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