subject: Spreadtrum Communications Q1 revenue increased 5 times the net profit of 6.6 million U.S. dollars [print this page] Spreadtrum Communications Q1 revenue increased 5 times the net profit of 6.6 million U.S. dollars
Recently announced the closing March 31, 2010 unaudited first quarter financial report. The report shows the company's first quarter total revenues of 52.1 million U.S. dollars, up 534%; net profit of 6.6 million U.S. dollars.
Financial highlights first quarter of 2010:
- Total revenue of 52.1 million U.S. dollars, growth of 23%, up 534 percent.
- Gross profit 23.7 million U.S. dollars, gross margin was 45.5%.
- Operating cash flow of 28.7 million U.S. dollars.
-GAAP net profit of 6.6 million U.S. dollars, compared with a net loss of 8.3 million U.S. dollars.
-GAAP per American depositary share basic and diluted earnings were 0.14 dollars and 0.13 U.S. dollars,
Business Highlights:
On the quarterly results, Spreadtrum's President and CEO Dr. Li Liyou said: "We proved that in this quarter's performance, we insist on the implementation of the main objectives and promote new and existing customer business capabilities. Quarterly revenue grew an impressive 534 percent, exceeding our original expectations. the first quarter, we continue to improve product quality and customer service, so that we occupy in the 2G and 3G market with more market share. I am confident that our strong and the continued expansion of product portfolio will allow us to move forward on this basis. For the second quarter, we expect revenue of 65 million -6.8 thousand million dollars. "
First Quarter 2010 Review:
Revenue
The first quarter of 2010, 52.1 million U.S. dollars of total revenue, in the fourth quarter of 4230 million, a year earlier to 8.2 million U.S. dollars.
Central baseband semiconductor shipments rose 17.6%, up twice. RF semiconductor shipments rose 35.3%, Central, up 4 percent.
Baseband Semiconductor average selling price rose 2.2%, Central, up 34.8% year on year, average selling price of RF semiconductors, decreased 1.0% year on year increase of 15.7%.
Gross profit and gross profit margin
Gross profit was 23.7 million U.S. dollars, gross profit margin was 45.5%. Operating costs for the 28.4 million U.S. dollars, growth of 16%, up 2 times, because sales of major product lines are up.
Operating margin
The company's operating margin for the quarter was 14.3%. Including sales, general and administrative and research and development of the total operating cost of 16.2 million U.S. dollars. Increase in operating expenses was mainly due to increased staff compensation and equity incentives.
Central R & D expenses rose 4.6%, up by 54.0%, to 12 million U.S. dollars. Mainly due to increased staff compensation.
General and administrative expenses rose 10.0%, Central, up 26.0%, to 430 million. Mainly due to increased staff compensation.
Net profit / loss
Net profit of 660 million, net profit rate was 12.6% in the profit margin due to higher product sales.
Each American depositary share basic and diluted earnings were 0.14 dollars and 0.13 U.S. dollars.
Excluding stock compensation expenses, first quarter adjusted net profit of 870 million American depositary shares per diluted earnings of USD 0.17.
Cash Flow
Ended March 31, 2010, cash and cash equivalents, more than 90 days maturity of short-term deposits, restricted cash amounted to 133.9 million U.S. dollars, higher than end December 31, 2009 when the increase of 20.2 million U.S. dollars.
