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Business | August 03, 2012

Spansion describes quarter as strong

"Spansion had a strong quarter and achieved several accomplishments," said John Kispert, president and CEO of Spansion.

"We launched our SLC NAND product family and the industry's first human machine interface coprocessor for voice recognition. We are well positioned for the future with our continued leadership in the embedded market, expanded product portfolio and design win momentum." On a U.S. GAAP basis, Spansion reported second quarter net sales of $233.4 million, gross margin of 31.7%, operating income of $37.8 million, net income of $26.0 million and diluted EPS of $0.43. GAAP net income includes a one-time gain of $28.4 million from sale of the Company's former manufacturing operation facility in Kuala Lumpur, Malaysia. On a non‑GAAP basis, net sales totaled $233.4 million, adjusted gross margin was 35.5%, adjusted operating income was $25.0 million, adjusted net income was $13.7 million and adjusted diluted EPS was $0.22.
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