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Microsemi Corp. is a multinational supplier of high reliability power semiconductors, surface mount and custom diode assemblies for the electronics, computer, telecommunications, defense/aerospace and medical markets. It just reported great results and a current BTB of 1.1 compared to 0.8 to 0.9 for the semi industry. Needless to say, this is very bullish for MSCC. Microsemi Corp. Reports Strong Second Quarter With Higher Net Income And Earnings Per Share April 24, 1996--Microsemi Corp. (NASDAQ/NMS:MSCC) Wednesday reported higher sales and earnings for its 1996 second fiscal quarter. Revenues for the quarter ended March 31, 1996 increased 21% to $39,107,000, from $32,441,000 in the second quarter of 1995. Second quarter net income increased 36% to $1,828,000 from $1,348,000 in the comparable quarter ended April 2, 1995. Earnings per share for the second quarter were $.22, up 29% from $.17 in the same quarter last year. Philip Frey Jr., chairman, president and CEO, stated: "Looking at this quarter, we're pleased that all areas of our business produced strong results. Others in our industry were not so fortunate. The commercial space-satellite business was especially robust and appears to be on a continuous uptrend." Revenues for the first six months of fiscal 1996 were up 24% at $74,406,000, compared with $60,098,000 in the prior year. Net income for the first six months of fiscal 1996 totaled $3,257,000, a 38% increase from $2,361,000 in the first half of fiscal 1995. Earnings per share during the same period were $.39, an increase of 30% from $.30 in the prior year. Our backlog has also strengthened. It currently stands at $70,100,000, a 35% increase from $52,100,000 a year ago and up $3,500,000, or 5%, from the preceding quarter. Frey went on to state that: "This gives us a current book to bill ratio of 1.1 for Microsemi compared to the .8 to .9 range for the major part of the industry. It demonstrates the strength of niche participation in a wide array of markets." Microsemi Corp. Interim Unaudited Consolidated Report (Amounts in 000's) 13 Weeks Ended 13 Weeks Ended March 31, 1996 April 2, 1995 Net Sales $ 39,107 $ 32,441 Gross Profit 10,309 8,114 Net Income 1,828 1,348 Primary Earnings Per Share $ 0.22 $ 0.17 Fully Diluted Earnings Per Share $ 0.18 $ 0.15 Common and Common Equivalent Shares Outstanding: Primary 8,232 7,993 Fully Diluted 11,755 11,573 26 Weeks Ended 26 Weeks Ended March 31, 1996 April 2, 1995 Net Sales $ 74,406 $ 60,098 Gross Profit 19,512 15,118 Net Income 3,257 2,361 Primary Earnings Per Share $ 0.39 $ 0.30 Fully Diluted Earnings Per Share $ 0.33 $ 0.26 Common and Common Equivalent Shares Outstanding: Primary 8,264 7,989 Fully Diluted 11,787 11,573 CONTACT: Microsemi Corp., Santa Ana, Calif. David R. Sonksen, 714/979-8220 MSCC has some interesting new products, one of which is the PowerMite. What do you think about MSCC? | ||||||||||||||
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