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© alexander fediachov dreamstime.com Components | October 26, 2012

Spansion with sequential net sales increase

Spansion reported third quarter (ended September 30, 2012) net sales of USD 239.7 million, up from USD 233 million in 2Q/2012 and down from USD 258 million YoY.
On a non‑GAAP basis, net sales totaled $239.7 million, gross margin was 36.3%, operating income was $31.5 million, net income was $22.6 million, and diluted EPS was $0.36.

Third Quarter 2012 Financial Highlights:
  • Revenue of $239.7 million
  • Non-GAAP adjusted gross margin of 36.3%
  • Non-GAAP adjusted operating income of $31.5 million or 13.1% of revenue
  • Adjusted EBITDA of $46.8 million
  • Non-GAAP EPS of $0.36 per share
  • Cash, cash equivalents and short term investments of $328 million

"As a result of operational execution and customer adoption of new differentiated products in embedded markets, we delivered another profitable quarter with growing cash flow generation," said John Kispert, president and CEO of Spansion. "Our leadership in the embedded market continues as our Flash memory solutions play a critical role in the next generation of electronics. We plan to continue to introduce new products based on our leading technology."

Business Outlook

For the fourth quarter of 2012, Spansion estimates U.S. GAAP net sales in the range of $220 million to $245 million and GAAP net income per share of $0.08 to $0.13.

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