25 October 2012

Hittite reports a third consecutive quarter of growth

For third-quarter 2012, 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 $67.2m, down 1.4% on $68.1m a year ago but up 2.7% on $65.4m last quarter (the third consecutive quarter of sequential growth, after a low of $60.2m in Q4/2011).

Of total revenue, 48.7% ($32.8m) came from customers in the USA and 51.3% ($34.4m) came from customers outside the USA.

Gross margin was 73.6%, down on 74.5% both a year ago and last quarter. However, although down on $33.3m (48.8% of revenue) a year ago, operating income was $27.6m (operating margin of 41% of revenue), up on $26.2m (40.1% of revenue) last quarter.

Likewise, although still down on $22.4m a year ago, net income was $17.7m, up from $17.2m last quarter.

During the quarter, total cash and marketable securities rose by $17.4m, from $375.4m to $392.8m.

For fourth-quarter 2012, Hittite expects revenue of $66.5-68.5m and net income of $16.7-17.6m.

See related items:

Hittite’s revenue and profit continue recovery in Q2

Hittite’s revenue rebounds by 5.2% in Q1

Hittite’s profit and margins trimmed as revenue falls 11.6% in Q4

Tags: Hittite

Visit: www.hittite.com