AMI Semiconductor Inc. today reported unaudited results for the second quarter generally improved over the first quarter, though a $20 million charge for a write-off of an intangible asset resulted in a net loss.
Revenue for the second quarter rose to $108.4 million from $102.8 million in the first quarter. Net loss for the quarter was $7.3 million, compared to net income of $1.8 million in the first quarter. Excluding the impact of the write-off, AMIS' net income would have been $4.5 million, according to the Pocatello, Idaho mixed-signal ASIC supplier.
Earnings before income tax, depreciation, and amortization were $26.1 million, compared to $22 million in the first quarter. The company's cash balance grew from $62.2 million at the end of 2002 to $89.1 million at the end of June. Gross margin increased to 43.7% from 37.4% in the first quarter.
According to Chris King, president and chief executive of AMIS, design wins continue to increase for the company's mixed-signal ASICs in automotive, medical, and industrial markets.