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Mindspeed Reports Fiscal Fourth Quarter 2012 Results
- Revenue exceeds revised guidance, reaching $36.3 million
- First commercial deployment of LTE small cells using Mindspeed SoCs set to deploy this December quarter in Korea
- Restructuring plans on track to accelerate profitability
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--November 5, 2012--Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today reported results for its fiscal fourth quarter of 2012. For the quarter ended September 28, 2012, Mindspeed recorded net sales of $36.3 million and a loss per share of $0.09 on a non-GAAP basis, or a loss per share of $0.21 on a GAAP basis.
Product revenue from high-performance analog (HPA) products represented 49 percent of fiscal fourth quarter 2012 product revenue and increased six percent sequentially from the prior quarter, marking another quarter of record revenue from this product group. Product revenue from communications convergence processing (CCP) solutions contributed 39 percent of fiscal fourth quarter 2012 product revenue and decreased two percent sequentially from the prior quarter. Wide area networking (WAN) product revenue accounted for the remaining 12 percent.
Non-GAAP operating loss for the fiscal fourth quarter of 2012 was $3.0 million, compared to a non-GAAP operating loss of $3.9 million in the prior fiscal quarter. GAAP operating loss for the fiscal fourth quarter of 2012 was $8.2 million, compared to a GAAP operating loss of $13.2 million in the prior fiscal quarter. Non-GAAP net loss for the fiscal fourth quarter of 2012 was $3.7 million, or $0.09 per share, compared to a non-GAAP net loss of $4.7 million, or $0.12 per share, in the prior quarter. GAAP net loss in the fiscal fourth quarter of 2012 was $8.2 million, or $0.21 per share, compared to a GAAP net loss of $6.9 million, or $0.18 per share, in the prior quarter.
Non-GAAP results exclude asset impairments, stock-based compensation and related payroll costs, acquisition-related costs, integration costs, revaluation of contingent consideration and restructuring charges, among other items. Reconciliations of the non-GAAP measures to GAAP measures are included in the accompanying financial data.
The following information was filed by Mindspeed Technologies, Inc (MSPD) on Monday, November 5, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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