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Mindspeed Reports Fiscal Second Quarter 2012 Results
Second Quarter Net Revenue Up 4.2% Sequentially
Continued Success in Wireless Initiative; Mindspeed Now Supporting 25 4G/LTE Engagements for Transcede®, 6 TD-SCDMA Engagements and over 60 3G/HSPA Engagements Worldwide
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--May 7, 2012--Mindspeed Technologies, Inc. (NASDAQ:MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today reported results for its fiscal second quarter of 2012, which ended on March 30, 2012.
Fiscal Second Quarter 2012 Financial Highlights
- Total Net Revenues: $35.4 million, including intellectual property revenue of $0.5 million; Product Revenue: $34.9 million, up 3.0 percent from the fiscal first quarter of 2012.
- Non-GAAP Gross Margin: 59.8 percent, compared to 58.0 percent in the prior fiscal quarter; GAAP Gross Margin: 58.0 percent, compared to 58.1 percent in the prior fiscal quarter.
- Non-GAAP Operating Margin: (13.9) percent, compared to (6.8) percent in the prior fiscal quarter; GAAP Operating Margin: (39.1) percent, compared to (16.0) percent in the prior fiscal quarter.
- Non-GAAP Net Loss per Share: $(0.14), compared to $(0.07) in the prior fiscal quarter; GAAP Net Loss per Share: $(0.39), compared to $(0.17) in the prior fiscal quarter.
Total net revenues for the fiscal second quarter of 2012 were $35.4 million. Excluding intellectual property revenue of $0.5 million, product revenue was $34.9 million, a sequential increase of 3.0 percent from product revenue of $33.8 million in the prior fiscal quarter and a decrease of 9.6 percent from product revenue of $38.6 million in the fiscal second quarter of 2011.
Product revenue from communications convergence processing (CCP) solutions contributed 43.5 percent of fiscal second quarter 2012 product revenues and increased 1.0 percent sequentially from the prior fiscal quarter. Product revenue from high-performance analog (HPA) products represented 44.9 percent of fiscal second quarter 2012 product revenue and increased 9.2 percent sequentially from the prior fiscal quarter. Wide area networking (WAN) communications product revenue contributed the remaining 11.6 percent of fiscal second quarter 2012 product revenue and decreased 10.1 percent sequentially from the prior fiscal quarter.
The following information was filed by Mindspeed Technologies, Inc (MSPD) on Monday, May 7, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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