Analyst Conference Summary

conference date: August 8, 2009 @ 2:00 PM Pacific Time
for quarter ending: June 27, 2009 (4th fiscal quarter 2009)

At the time of writing, I own two competitors, Microchip (MCHP) and Marvell (MRVL)
Forward-looking statements

Overview: Nice sequential revenue increase.

Basic data (GAAP) :

Revenues were $394.5 million, up 16% sequentially from $339.7 million but down 21% from $501.3 million year-earlier.

Net income was $8.1 million, up sequentially from a loss of $26.4 million, but down 88% from $66.0 year-earlier.

EPS (earnings per share) were $0.03, up sequentially from negative $0.09, but down 85% from $0.20 year-earlier.

Guidance:

September quarter (Q1 2010) revenue expected between $415 and $445 million. Gross margin 53% to 56%. Operating expenses $170 to $172 million.

Conference Highlights:

Management believe they gained market share in the quarter. A cash dividend of $0.20 per share will be paid to stockholders of record on August 21, 2009.

Special expenses included in the GAAP numbers were $18.9 million in accelerated depreciation and a $15.5 million ta provision due to international restructuring. Excluding these items, EPS would have been $0.11 per share.

Cash and equivalents balance ended at $913.4 million, up $15.1 million in the quarter. Cash flow from operations was $110.4 million. $61.1 million was issued in dividends. $31.9 million was spend on capital equipment and property.

The 90 day backlog increased by 18% to $278 million.

Q&A:

OpenIcon Analyst Conference Summaries Main Page
Maxim Investor Relations page
More Openicon Maxim Summaries

Search

More Analyst Conference Pages: