21 July 2011

Hittite continues growth in Q2

For second-quarter 2011, Hittite Microwave Corp of Chelmsford, MA, USA (which designs and supplies analog and mixed-signal RF, microwave and millimeter-wave ICs, modules and subsystems as well as instrumentation) has reported revenue of $68.5m, up 1.9% on $67.2m last quarter and 13.6% on $60.3m a year ago.

Of total revenue, 45.7% came from the USA ($31.3m, up from $30m last quarter) and 54.3% came from outside the USA ($37.2m, level on last quarter).

However, gross margin has fallen further, from 74.8% a year ago and 73.0% last quarter to 72.7%. Nevertheless, operating income has risen, from $29.7m (49.2% of revenue) a year ago and $31.2m (46.4% of revenue) last quarter to $32m (46.8% of revenue), rebounding from a slight drop from Q4/2010 to Q1/2011.

Likewise, net income is up by 8.8% from $19.2m a year ago and by 3.3% from $20.2m last quarter to $20.8m. During the quarter, total cash and cash equivalents rose by $13.9m, from $311.7m to $325.6m.

For third-quarter 2011, Hittite expects revenue of $68–70m, with net income of $20–20.8m.

See related items:

Hittite maintains growth in Q1

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Visit: www.hittite.com