AnalogicTech 1Q08 Net Revenues Up 18.9%

(Business News & Technology News, 30 Apr 2008)

Advanced Analogic Technologies Inc. (AnalogicTech), a developer of power management semiconductors for mobile consumer electronic devices, has posted net revenue of $25.1 million for the first quarter of 2008, up 18.9 percent compared to the same period last year. However, the figure is down 21.7 percent sequentially.

Net income for the first quarter was $0.4 million or $0.01 per diluted share. This compares to a net loss of $2.8 million, or $0.06 per diluted share, for the first quarter of 2007, and net income of $3 million, or $0.06 per diluted share, for the fourth quarter of 2007.

According to Richard K. Williams, President, CEO and CTO of AnalogicTech, seasonality combined with a decline in sales from China-based handset manufacturers resulted in lower than anticipated revenue for the company's first quarter. On the other hand, he added that despite challenging industry conditions, AnalogicTech achieved their expectations for earnings as they increased their margins through improvements in product mix and yields. "While concerns remain about the macro-economic environment, we are encouraged by the traction we are experiencing across our product lines and the volume of recent design wins, including several in high profile handset models. We continue to benefit from multiple growth drivers which gives us confidence in our prospects for the second half of the year," says Williams.

Click here for more information on AnalogicTech