MANHASSET, N.Y. Mixed-signal semiconductor supplier AMI Semiconductor has realigned its business by integrating its foundry services business into its mixed-signal business unit, a move the company said would offer customers a full range of options from applications-specific products to custom designs and foundry services.
AMI Semiconductor (Pocatello, Idaho) now plans to consolidate business segment reporting information in two units, integrated mixed-signal products and structured digital products. The company purchased the semiconductor division of Flextronics
for $135 million in June.
In its second quarter, AMI reported second-quarter revenue of $122.5 million, up 6 percent sequentially but 9 percent down from the year-ago quarter. Second-quarter net income was $11.3 million or 13 cents per share, compared with $15.4 million or 18 cents per share a year ago. Gross margin was 49.1 percent, up 270 basis points sequentially.
"Business conditions rebounded as expected in the second quarter," said Christine King, president and chief executive of AMI Semiconductor, in a statement. "Looking forward, we still expect sequential growth through the balance of 2005. While third quarter orders support our outlook for sequential growth, fourth quarter backlog is weaker than normal at this time."
For the third quarter, AMI expects sales to be flat to up 3 percent sequentially, with pro-forma earnings of 14 to 16 cents per share.