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Exhibit 99.1
For investor information contact:
Heidi Flannery, Investor Relations
(510) 743-1718
investor@volterra.com
Volterra Reports Fourth Quarter Results and Eleventh Consecutive Year of Revenue Growth
FREMONT, Calif., January 23, 2012 Volterra Semiconductor Corporation (Nasdaq: VLTR), a leading provider of high-performance analog and mixed-signal power management semiconductors, today reported financial results for its fourth quarter and fiscal year ended December 31, 2011.
Net revenue for the fourth quarter of 2011 was $38.8 million, a 9% increase over net revenue of $35.5 million for the fourth quarter of 2010, and a 6% decrease from net revenue of $41.3 million for the third quarter of 2011. GAAP net income was $5.7 million, or $0.22 per share (diluted), for the fourth quarter of 2011, a 67% increase from GAAP net income of $3.4 million, or $0.13 per share (diluted), for the fourth quarter of 2010 and a 18% decrease from GAAP net income of $6.9 million, or $0.26 per share (diluted), for the third quarter of 2011.
Volterra also reported net income and basic and diluted net income per share on a non-GAAP basis. Non-GAAP net income excludes the effect of stock-based compensation expense. Non-GAAP net income was $7.8 million, or $0.30 per share (diluted), for the fourth quarter of 2011, a 43% increase from non-GAAP net income of $5.4 million, or $0.21 per share (diluted), for the fourth quarter of 2010 and a 14% decrease from non-GAAP net income of $9.1 million, or $0.35 per share (diluted), for the third quarter of 2011.
For the full year 2011, Volterra reported annual net revenue of $156.0 million. GAAP net income was $20.6 million, or $0.79 per share (diluted), for the fiscal year ended December 31, 2011, compared to GAAP net income of $28.4 million, or $1.10 per share (diluted), for the fiscal year ended December 31, 2010. Non-GAAP net income was $28.9 million, or $1.10 per share (diluted), for the fiscal year ended December 31, 2011, compared to non-GAAP net income of $35.1 million, or $1.35 per share (diluted), for the fiscal year ended December 31, 2010.
I am proud to report Volterras eleventh consecutive year of revenue growth and our eighth consecutive profitable year, said Volterra President and CEO Jeff Staszak. We performed solidly in 2011, despite a turbulent market, and we are on track for continued growth in the upcoming year in our three market segments.
Earnings Conference Call
Volterra will be conducting a conference call today at 2:30 p.m. (PST). To access the conference call, investors can dial (877) 941-8609 approximately ten minutes prior to the initiation of the teleconference. International and local participants can dial (480) 629-9818. Investors should reference Volterra. A digital replay of the conference call will be available until midnight on Monday, January 30, 2012. To access the replay, investors should dial (800) 406-7325 or
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