7/20...ATML..Net Income Up 298%
EPS of $0.26 Up 225%
SAN JOSE, Calif.--(BUSINESS WIRE)--July 20, 2000--Atmel Corporation (NASDAQ: ATML - news), today announced record results for the second quarter ended June 30, 2000.
Revenues for the second quarter of 2000 totaled $478,758,000, up 54% from a year ago, and up 12% sequentially. Net income for the second quarter of 2000 totaled $61,325,000 or $0.26 per share on a fully diluted basis. Basic EPS for the quarter was $0.27. In the previous quarter (first quarter 2000), the Company reported net income of $41,852,000 or $0.19 per share. In last year's second quarter, the Company's net income was $15,404,000 or $0.08 per share.
George Perlegos, President and Chief Executive Officer, commented, ``Revenues for the second quarter of 2000 were the highest in Atmel's history, and we are extremely pleased with our growth and profit performance. Revenues were ahead of our expectations driven by continued product sales strength, a stable to increasing pricing environment, and the continued successful ramp of our manufacturing capacity. Profitability measures improved as our gross margin increased to 43.5 percent from 37.6 percent a year ago, and our operating margin more than doubled from a year ago to 19.4 percent due to our continued focus on expense control, illustrating the leverage of our business model. Fully diluted earnings per share of $0.26 also more than tripled from a year ago, despite the additional shares from the secondary offering completed in February 2000 and the recent conversion of our $150 million convertible bond issue.
In conclusion Perlegos stated, ``New orders received in the quarter were strong, giving us confidence in the future. As we look out to the remainder of 2000 we are enthusiastic about the growth opportunities that take advantage of our expertise in a broad range of product areas, including advanced logic, nonvolatile memory, security and radio frequency capabilities.''
Founded in 1984, Atmel Corporation is headquartered in San Jose, California with principal manufacturing facilities in Colorado Springs, Colorado, Grenoble, Nantes and Rousset, France and Heilbronn, Germany. Atmel designs, manufactures and markets on a worldwide basis advanced logic, mixed-signal, nonvolatile memory, and RF semiconductors. Atmel is also a leading provider of system-level integration semiconductor solutions using advanced CMOS, BiCMOS, BiPolar and SiGe process technologies.
Atmel product and financial information can be retrieved from its Fax-on Demand service. In North America call 800/292-8635. Internationally from a fax phone, dial 408/441-0732. Requests may be sent via e-mail to literature@atmel.com or by visiting Atmel's website at atmel.com. |
