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27 April 2007


Hittite continues growth and product launches

Hittite Microwave Corp of Chelmsford, MA, USA, which designs ICs, modules and subsystems for RF, microwave and millimeter-wave applications, has reported revenue for first-quarter 2007 of $36.3m, up 2.6% on Q4/2006’s $35.4m and 30.4% on $27.9m a year ago.

Gross margin has risen from 70.8% in Q4/2006 to 71.3%. Net income was $12.0m, roughly level with $12.1m in Q4/2006 but up 36% on $8.8m a year ago.

“We see expanding customer acceptance of our existing and new products in all our target markets,” says chairman and CEO Stephen Daly. “Our product development team continues to execute, and during the quarter we introduced 21 new products, including our first pure silicon CMOS product for the broadband market.”

For second-quarter 2007 Hittite expects revenue to rise slightly again, to $36.5-37.5m, and net income to be $11.9-12.5m (roughly level with Q1).

See related items:

Hittite grew revenues 60% and doubled profit in 2006

Top 10 GaAs device makers in 2005 joined by Hittite, Mitsubishi Electric and Toshiba at expense of Eudyna, Sony and NEC