24 October 2011

Hittite sees rebound in margins and profits in Q3/2011

For third-quarter 2011, Hittite Microwave Corp of Chelmsford, MA, USA (which designs and supplies analog, digital and mixed-signal RF, microwave and millimeter-wave ICs, modules and subsystems as well as instrumentation) has reported revenue of $68.1m. This is up 6.2% on $64.2m a year ago but down 0.5% on $68.5m last quarter.

Of total revenue, 44.4% came from the USA ($30.3m, down from $31.3m last quarter) and 55.6% came from outside the USA ($37.8m, up on $37.2m last quarter).

Gross margin has rebounded from 72.7% last quarter to 74.5%, almost level with 74.6% a year ago. Operating income has risen further, from $32m (46.8% of revenue) last quarter to $33.3m (48.8% of revenue).

Likewise, net income has risen from $20.8m last quarter to $22.4m. During the quarter, total cash and cash equivalents rose by $25.5m to $351.1m.

However, for fourth-quarter 2011 Hittite expects revenue to fall 12.6% to $58-61m and net income to fall to $15.2-16.5m.

See related items:

Hittite continues growth in Q2

Hittite maintains growth in Q1

Tags: Hittite

Visit: www.hittite.com