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Spreadtrum Communications posts Q2 net income of USD 34.8m

Chinese semiconductor firm Spreadtrum Communications Inc (NASDAQ: SPRD) posted total Q2 ´13 revenue of USD 277.8m up 47.0% sequentially and 60.5% year-over-year (y-o-y) at the top end of the company´s previously guided range of USD 270 – USD 278m.

Spreadtrum said its gross profit was USD 104.9m, up 48.8% sequentially and 63.4% y-o-y. Gross margin was 37.8% compared to 37.3% in the prior quarter and 37.1% in Q2 ´12.

Cash flow generated from operations was USD 47.6m compared with USD 17.4m in the prior quarter and USD 16.8m in Q2 ´12. GAAP net income was USD 34.8m, up 71.9% sequentially and 66.2% y-o-y.

GAAP net income per basic and diluted ADS was USD 0.71 and USD 0.64, respectively, an increase from USD 0.42 and USD 0.38, respectively, in the prior quarter and from USD 0.45 and USD 0.41, respectively, in Q2 ´12.

Non-GAAP net income was USD 51.8 m , up 95.6% sequentially and 74.8% y-o-y. Non-GAAP net income per diluted ADS was USD 0.95, an increase from USD 0.50 in the prior quarter and from USD 0.58 in Q2 ´12.

Spreadtrum Communications is a fabless semiconductor company that develops mobile chipset platforms for smartphones, feature phones and other consumer electronics products, supporting 2G, 3G and 4G wireless communications standards.

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