26 July 2013

Hittite reports rise in profit on 4.9% growth year-on-year in Q2

For second-quarter 2013, 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 $68.6m, up 1.3% on $67.7m last quarter and 4.9% on $65.4m a year ago.

Of total revenue, 44% ($30.2m) came from customers in the USA (versus 44.7% last quarter) and 56% ($38.4m) came from customers outside the USA (versus 55.3% last quarter).

Gross margin has fallen from with 74.5% a year ago and 73.7% last quarter to 72.4%. Nevertheless, operating income has risen further, from $26.2m a year ago and $27.1m last quarter to $27.5m (staying steady at an operating margin of 40.1% of revenue throughout).

Likewise, net income has risen further, from $17.2m a year ago and $17.6m last quarter to $18m. During the quarter, total cash and marketable securities rose by $8.8m, from $429.4m to $438.2m.

For third-quarter 2013, Hittite expects slight drops in revenue to $66.5-68.5m and in net income to $16.7-17.7m.

See related items:

Hittite reports Q1 revenue up 6.9% year-on-year, and rebound in gross margin

Hittite sustains growth for fourth quarter

Hittite reports a third consecutive quarter of growth

Hittite’s revenue and profit continue recovery in Q2

Tags: Hittite

Visit: www.hittite.com