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Electronics Production | August 05, 2010

Atmel revenue up in Q2

Revenues in the second quarter of 2010 were $393.4 million, up 13 percent from $348.5 million in the first quarter of 2010 and up 38 percent from $284.5 million in the second quarter of 2009.
Net loss, on a GAAP basis, was $36.4 million or $(0.08) per diluted share in the second quarter of 2010. Included in net loss for the quarter were charges related to the sale of the company’s manufacturing operations in Rousset, France of $107.6 million. The second quarter net loss compares with a GAAP net income of $16.6 million or $0.04 per diluted share in the first quarter of 2010 and a net loss of $12.4 million or $(0.03) per diluted share in the second quarter of 2009.

Non-GAAP net income in the second quarter of 2010 totaled $50.8 million or $0.11 per diluted share, compared with non-GAAP net income of $25.5 million or $0.05 per diluted share in the first quarter of 2010 and non-GAAP net loss of $(0.6) million or $(0.00) per diluted share in the second quarter of 2009.

Gross margin increased to 41 percent in the second quarter of 2010, the highest level achieved since the fourth quarter of 2000, compared to 38 percent in the first quarter of 2010 and 32 percent in the second quarter of 2009. The sequential gross margin improvement was the result of higher business volumes, increased factory utilization levels, and an improved mix, as greater than half of all product shipments during the quarter were higher margin microcontroller products.

Second quarter 2010 loss from operations of $(78.9) million compared with first quarter income from operations of $14.9 million and a loss from operations of $(17.6) million in the second quarter of 2009. The sale of the manufacturing operations in Rousset resulted in a loss on the sale of assets as well as related restructuring and impairment charges totaling $107.6 million.

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