InterDigital Inc (IDCC)

[ciciagt]

OT: SPRD
http://finance.yahoo.com/news/Spreadtrum-Communications-Inc-prnews-980487819.html?x=0&.v=2
FIRST QUARTER 2010 FINANCIAL SUMMARY: -- Total revenue increased 23% quarter-over-quarter and 534% year-over-year to US$52.1 million, exceeding the Company's previously guided range of US$40-43 million. -- Gross profit was US$23.7 million compared to US$17.8 million in the previous quarter and US$1.6 million in 1Q09. Gross margin was 45.5% compared to 42.2% in the previous quarter and 19.4% in 1Q09. -- Cash flows from operations were US$28.7 million, compared with US$9.5 million in the previous quarter, and compared with US$-0.5 million in 1Q09. -- GAAP net income was US$6.6 million, compared with US$1.4 million in the previous quarter and a net loss of US$8.3 million in 1Q09. -- GAAP net income per basic and diluted ADS was US$0.14 and US$0.13, respectively, an improvement from US$0.03 per basic and diluted ADS in 4Q09 and a loss of US$0.19 per basic and diluted ADS in 1Q09. -- Non-GAAP net income was US$8.7 million, compared to US$2.9 million in 4Q09 and a net loss of US$7.7 million in 1Q09. Non-GAAP net income per diluted ADS was US$0.17, an improvement from US$0.06 per diluted ADS in 4Q09 and a loss of US$0.18 per diluted ADS in 1Q09.

"For the second quarter, we anticipate revenue to be in the range of $65-68 million with maintained margin performance. Our recent strong performance gives us confidence in our ability to deliver continued growth in 2010. We are cognizant of the toughening competitive environment, capacity constraints, market uncertainty and growing pressures on ASPs. We will remain committed to executing on our strategic initiatives to overcome these challenges."

Further commenting on the Q1 financial results, Shannon Gao, Spreadtrum CFO, also said, "In addition to this top-line expansion, net income reached $6.6 million, marking a third consecutive quarter of profitability, and gross margin climbed to 45.5%, a clear sign of our success in improving our product mix, maintaining pricing power, and controlling costs."