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Industry News
October 24, 2012
Volterra Reports Third Quarter Financial Results
Volterra Semiconductor Corporation reported financial results for its quarter ended September 30, 2012. Net revenue for the third quarter of 2012 was $42.1 million, a 3% decrease from $43.6 million in the second quarter of 2012, and a 2% increase from $41.3 million in the third quarter of 2011. GAAP net income was $6.1 million, or $0.23 per share (diluted), a 1% increase from $6.0 million, or $0.22 per share (diluted) in the second quarter of 2012, and a 13% decrease from $6.9 million, or $0.26 per share (diluted), in the third quarter of 2011.
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Volterra also reported net income and diluted net income per share on a non-GAAP basis. Non-GAAP net income excludes the effect of stock-based compensation expense. Non-GAAP net income was $8.7 million, or $0.33 per share (diluted), in the third quarter of 2012, a 2% increase from $8.5 million, or $0.32 per share (diluted), in the second quarter of 2012, and a 4% decrease from $9.1 million, or $0.35 per share (diluted), in the third quarter of 2011.
"We are pleased that we will have greater growth in 2012 than 2011 after another challenging year from a macro economic standpoint," said Volterra President and CEO Jeff Staszak. "I am optimistic that 2013 will bring more growth as the macro economic situation rebounds, our customers return to a normalized growth mode and as new product cycles materialize."
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