News

25 July 2008

 

Hittite rebounds slightly, but next quarter to be flat

For second-quarter 2008, Hittite Microwave Corp of Chelmsford, MA, USA, which designs and supplies RF, microwave and millimeter-wave ICs, modules and subsystems, has reported revenue of $45m, up 4% on $43.3m last quarter and 19.6% on $37.6m a year ago. Of total revenue, 40% came from the USA and 60% from outside the USA (up from 58% last quarter).

“Increased international sales allowed us to achieve our objectives,” says chairman and CEO Stephen Daly. “Our product development team continued to execute, and during the quarter we introduced our eighteenth product line, a new phase lock loop (PLL) product line, which will serve all of our target end markets,” he adds. “In total, we introduced 26 new products during the quarter across all of our product lines, in line with our plan for the year.”

After falling from 71% over the last year, gross margin has rebounded from 70.1% last quarter to 70.8%. Likewise, net income has rebounded slightly to $13.5m from $13m last quarter, as well as being up on $12.2m a year ago. Total cash has risen again during the quarter, by $5m to $186.2m.

For third-quarter 2008, Hittite expects revenue to be flat at $44.5-45.5m and net income to be $13.1-13.5m.

See related item:

Hittite’s Q1 revenues rise 19% year-on-year

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