22 April 2010


Hittite’s quarterly growth accelerates to 24%

For first-quarter 2010, Hittite Microwave Corp of Chelmsford, MA, USA, which designs and supplies analog and mixed-signal RF, microwave and millimeter-wave ICs, modules and subsystems, has reported revenue of $54.2m, up 24.1% on $43.7m last quarter (accelerating from growth of just 5.3% that quarter) and up 41.9% on $38.2m a year ago. 

About 44.3% of total revenue ($24m) came from customers in the USA and 55.7% ($30.2m) from outside the USA, compared to 50:50 in Q4/2009 (i.e. just $21.8m from outside the USA, leading to 39% growth in Q1/2010). “Q1 was a solid start to the year,” says chairman & CEO Stephen Daly. 

Gross margin of 73.4% was up from 71.5% a year ago but down from 74.8% last quarter. However, operating income was $25.1m (46.3% of revenue), up from $19.8m (45.5% of revenue) last quarter and $15.7m (41.1% of revenue) a year ago.

Net income has risen from $10.2m a year ago and $13.4m last quarter to $16.1m. During the quarter, total cash and cash equivalents grew by $17.7m to $238.2m.

“In addition to our strong financial results, we launched 32 new and innovative products [up from 30 in Q4/2009] including one new product line [ultra-compact, 1–7.6GHz varactor-tuned, MMIC filters for pre-selection in multi-band communication systems, wideband radar, and in test & measurement equipment],” says Daly. “These and our other recently introduced new products will help us to build on our competitive advantage in the markets we serve,” he adds.    

For second-quarter 2010, Hittite expects revenue to grow a further 7–11% to $58–60m and net income to rise further to $17–18m.

First battery-powered, portable 20GHz synthesized signal generator

Hittite has launched the HMC-T2100B, the first battery-powered, 10MHz–20GHz portable synthesized signal generator. Designed to fulfill signal generation needs in the field or on the bench, and priced at $14,998, the HMC-T2100B provides what is claimed to be the highest output power, lowest harmonic levels and broadest frequency range compared with portable signal generators of similar size and cost.

Suited to use in automated test & measurement environments, research, and development laboratories, the HMC-T2100B is a compact and lightweight frequency generator that delivers up to +27dBm of CW output power in 0.1dB steps over a 40dB dynamic range. Harmonic rejection is better than –39dBc at 1GHz and spurious products are better than –65dBc at 10GHz. Phase noise is –113dBc/Hz @ 100kHz offset from 1GHz with insignificant deviation over the temperature range of 0–35°C. The broad frequency range of 10MHz to 20GHz covers all major communication bands with frequency resolution of 10kHz, 0.1dB power resolution, and a fast switching speed of 300µs.

Internal rechargeable batteries allow for 4 hours of continuous operation, making the HMC-T2100B portable and versatile, which is particularly suited to wireless/wired service installation, field testing, or remote on-site maintenance applications.

Built on the foundation of Hittite’s monolithic microwave integrated circuits (MMICs), the portable signal generator features multiple interfaces (USB, GPIB and Ethernet) as well as control software, ensuring seamless integration within multiple test environments, says the firm. An installation disk that accompanies each unit includes all of the drivers required to remotely control the device as well as a user friendly GUI interface compatible with Windows XP or Windows Vista operating systems. User control is facilitated via pull-down menus that allow programming of single or swept modes in frequency and/or power. Integration of multiple units within a production test environment is easy and affordable, claims Hittite.

See related items:

Hittite revenue grows a more-than-expected 5.3% in Q4/09

Hittite recovery continues, driven by new products

Hittite revenue rebounds, driven by China 3G roll-out and microwave

Hittite’s revenues fall 18%, but Q2 to show slight rebound

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