Atmel has reported revenues of $348.6m for the first quarter of 2010, an increase of 28.4% compared to $271.5m for the same period last year. Revenues increased 1.4% on a sequential basis. Microcontroller revenues were $151m.
Gross margin increased to 38.4% in the first quarter of 2010, up from 37% in the fourth quarter and 35.1% in the first quarter of 2009. The sequential gross margin improvement was the result of increased factory utilisation levels and an improved mix of higher margin microcontroller products during the quarter.
Operating income for the quarter was $14.9m, compared to operating loss of $20.5m for the same period last year. Operating expenses decreased to $333.6m from $415.3m for the first quarter of 2010.
The company has posted a net income of $16.6m or $0.04 per diluted share in the first quarter of 2010, compared to a net loss of $83.3m or a loss of $0.18 per diluted share in the fourth quarter of 2009 and a net income of $3.6m or $0.01 per diluted share in the first quarter of 2009.
Steve Laub, president and CEO of Atmel, said: We are especially pleased to have achieved record revenues for our microcontroller business. Our Microcontroller and Touch solutions continue to gain substantial design wins, and we expect robust growth for these products throughout the year.
