South Africa
JSE listed Allied Electronics Corporation (Altron) announced its annual results for the year ending 28 February 2011. Revenue was up 2% to R22,8 billion; earnings before interest, tax, depreciation and amortisation (EBITDA) increased 6% to R2,1 billion; and headline earnings per share increased 15% to 228 cents per share. The group declared a 108 cents per share dividend to its shareholders, 20% higher than for the year ended February 2010.
Overseas
Business
RF Micro Devices reported financial results for its fiscal 2011 fourth quarter, ended 2 April. Quarterly revenue declined approximately 18% year-over-year and approximately 23% sequentially to $213,3 million, primarily as a result of seasonality and declining revenue at RFMD's largest customer. On a GAAP basis, gross margin equalled 35,4%, quarterly operating income totalled $13,2 million and quarterly net income was $24,1 million, or $0,08 per diluted share.
Revenue for Sierra Wireless’ first quarter of 2011 was $144,3 million, a decrease of 5% compared to $151,3 million in the first quarter of 2010. Mobile computing revenue was $71,6 million, up 14% compared to $62,6 million in the first quarter of 2010. M2M revenue was $72,7 million, down 18% compared to $88,7 million in the first quarter of 2010. The year-over-year revenue decrease in M2M was driven by significantly lower sales to Barnes & Noble, declining from $26,7 million in the first quarter of 2010 to $0,7 million in the first quarter of 2011, offset by solid year-over-year revenue growth of 16% in the remainder of the M2M business. Net loss was $7,8 million, or $0,25 per diluted share, in the first quarter of 2011 compared to a net loss of $7,5 million, or $0,24 per diluted share, in the first quarter of 2010.
Anadigics reported first quarter 2011 net sales of $43,5 million which were flat to the same period last year and down 27,8% from the prior quarter. GAAP net loss for the first quarter of 2011 was $10,7 million, or $0,16 per share.
First quarter revenues for austriamicrosystems were 55,2 million Euros, up 25% from 44,0 million Euros in the same quarter of 2010 and 5% lower quarter-on-quarter. The result from operations (EBIT) for the first quarter grew to 8,2 million Euros, up 165% from 3,1 million Euros in the same period of 2010, in spite of a negative EUR/USD exchange rate trend in the quarter. The first quarter net result was 7,4 million Euros compared to 2.0 million Euros in the same period of 2010.
Intersil’s net revenues for the first quarter of 2011 were $198,9 million, a 5% increase from $189,4 million in the first quarter of 2010, and a 3% increase from $194,0 million in the fourth quarter of 2010. Net income for the first quarter of 2011 decreased to $14,1 million, or $0,11 per diluted share, compared with net income of $27,7 million, or $0,22 per diluted share, in the same quarter last year, and net income of $26,1 million, or $0,21 per diluted share, in the fourth quarter of 2010.
Silicon Laboratories reported a 7% sequential increase in first quarter revenue to $119,6 million due to strength in its broadcast and broad-based product lines. During the quarter, the company completed the acquisition of SpectraLinear, a timing IC provider, and GAAP results include approximately $11,7 million in charges related to the acquisition, as well as typical non-cash stock compensation charges. Operating expenses included $5,1 million in acquisition-related charges and ended the quarter at $35,4 million in R&D investment and $31,9 million in SG&A expense. This resulted in a fully diluted GAAP loss of four cents per share.
Microchip’s consolidated net sales for the fourth quarter of fiscal year 2011 were $380,0 million, up 3,3% sequentially from $367,8 million in the immediately preceding quarter, and up 36,7% from $278,0 million in the prior year’s fourth quarter. GAAP net income from continuing operations for the fourth quarter of fiscal year 2011 was $130,6 million, or 65 cents per diluted share, up 28,1% from $101,9 million, or 52 cents per diluted share, in the immediately preceding quarter, and up 72,4% from $75,7 million, or 40 cents per diluted share, in the prior year’s fourth quarter. For the full fiscal 2011 year, consolidated net sales were a record $1,487 billion, an increase of 56,9% from $947,7 million in the prior fiscal year. Net income for the year was a record $429,2 million, or $2,20 per diluted share, an increase of 97,8% from $217,0 million, or $1,16 per diluted share, in the prior fiscal year.
As part of its planned investment for the 2011 fiscal year, Infineon Technologies is spending about 198 million Euros in production capacity expansion and in research and development in Austria. The company intends to create 400 jobs in Austria in the course of this fiscal year. Infineon’s workforce at the Villach, Linz, Klagenfurt, Graz and Vienna sites currently totals around 2500 employees, of whom approximately 900 are engaged in research and development.
Product revenue for NXP Semiconductors’ first 2011 quarter was $979 million, an increase of 9,5% from the $894 million reported in the first quarter of 2010, and an increase of 4,4% from the $938 million reported in the fourth quarter of 2010. Net income for the first quarter of 2011 was $187 million, or $0,73 per share (diluted). This compares to a net loss of $345 million, or a loss of $1,60 per share reported in the first quarter of 2010, and net loss of $118 million or a loss of $0,47 per share reported in the fourth quarter of 2010.
Samsung Electronics announced revenues of 36,99 trillion Korean won on a consolidated basis for the first quarter ended 31 March 2011, a 7% increase year-on-year. For the quarter, the company posted consolidated net income of 2,78 trillion won, representing a 30% decrease year-on-year. The company’s semiconductor business saw sales jump 12% year-on-year thanks to stronger demand for NAND products used in smartphones and tablet PCs, while the telecom segment continued to perform strongly with sales reaching 10,64 trillion won. However, Samsung’s overall net profit declined after the strong first quarter performance in 2010, weighed down by lower semiconductor memory prices and reduced profitability in LCD panels and TV sets.
Xilinx announced record fiscal 2011 sales of $2,37 billion, up 29% from the prior fiscal year. Fiscal 2011 net income increased 80% to of $641,9 million, or $2,39 per diluted share, versus fiscal 2010 net income of $357,5 million or $1,29 per diluted share. Fourth quarter fiscal 2011 sales were $587,9 million, up 4% sequentially and up 11% from the fourth quarter of the prior fiscal year. Fourth quarter fiscal 2011 net income was $160,1 million, or $0,59 per diluted share.
STMicroelectronics’s net revenues increased 9,0% on a year-over-year basis, with regional growth led by Greater China-South Asia and the Americas with sales up 18% and 13%, respectively. On a sequential basis, ST’s net revenues decreased 10,5%, with declines in all regions. Combined SG&A and R&D expenses were $874 million compared to $876 million and $914 million in the year-ago and prior quarter, respectively. Net income increased significantly on a year-over-year basis to $0,19 per diluted share, compared to $0,06 per diluted share in the year-ago quarter; in the prior quarter earnings per diluted share were $0,24.
Companies
M/A-COM Technology Solutions announced that it has acquired privately held Optomai, a fabless semiconductor company that develops high-performance integrated circuits and modules for next-generation 40 Gbps and 100 Gbps fibre-optic networks. The latter’s capabilities complement M/A-COM’s existing CATV/broadcast and point-to-point/infrastructure businesses, and accelerates its penetration of the rapidly growing optical communications market. Financial terms of the transaction were not disclosed.
French oil and gas company Total Group intends to launch a ‘friendly’ tender offer through a wholly owned subsidiary for up to 60% of SunPower’s outstanding Class A common shares and 60% of its outstanding Class B common shares at a price of $23,25/share for each class. In addition, Total will provide SunPower with up to $1 billion of credit support over the next five years. In addition, the companies have entered into an affiliation agreement under which Total will nominate a majority of directors to SunPower’s board of directors, which will be expanded to 11 members following the closing.
Industry
Worldwide PC microprocessor shipments in the first calendar quarter of 2011 (1Q11) grew, compared to both 4Q10 (+1,6% quarter over quarter) and to 1Q10 (+7,4% year over year), according to the latest PC microprocessor market share study from International Data Corporation (IDC). Also, according to IDC's latest PC microprocessor market forecast, unit shipments for the full year 2011 will grow 10,3% compared to 2010 and market revenue for the year will grow 17,6% to nearly $43 billion.
The Semiconductor Industry Association (SIA) announced that worldwide sales of semiconductors were $25,3 billion for the month of March 2011, a 2,5% increase from the prior month when sales were $24,7 billion, and an increase of 8,6% from March 2010 when sales were $23,2 billion. Sales in the first quarter of 2011 reached $75,8 billion, an increase of 8,6% over last year's first quarter sales of $69,8 billion and a sequential increase of 0,4% over the prior quarter. All monthly sales numbers represent a three-month moving average.
© Technews Publishing (Pty) Ltd | All Rights Reserved
printer friendly version