Atmel's Q1 sales falls 3% over Q4, but expects 8-12% growth in current period
Semiconductor Business News
(04/18/02 18:19 p.m. EST)
siliconstrategies.com
SAN JOSE -- Atmel Corp. today posted sales of $275.8 million for Q1 ended March 31, a 3% drop from $284.6 million in Q4 of 2001 and a 47.6% decline from $525.9 million from Q1 of 2001.
Net loss for the quarter totaled $44.3 million, or minus $0.09 per share, compare to a loss of $31.6 million, or minus $0.07 per share, in Q4 in 2001. In the first quarter of 2001, Atmel's net income was $56,014,000 or $0.12 per share.
"First quarter revenues were lower than expected, primarily due to an unfavorable mix of turns business," stated George Perlegos, Atmel's president and CEO. "However, we believe the company has reached the bottom of the cycle as we ended the quarter with positive sales momentum," he said.
"Our book-to-bill ratio exceeded 1.1 to 1, and lead times in certain products have lengthened," he said. "We increased our manufacturing activity accordingly towards the end of the quarter," he said.
Perlegos also expected growth in the second quarter. "We expect revenues to grow by approximately 8-to-12% in Q2, driven by growth in proprietary products such as our microcontrollers, USB hub controllers, wireless LAN, secure Smart Card, and SiGe products," he said. "We continue to implement further cost reductions and will focus on returning the company to profitability as soon as possible," he said. |
