SAN FRANCISCO Wireless semiconductor provider Atheros Communications Inc. Monday (Jan. 30) reported a fourth quarter 2005 GAAP net income of $13.1 million, an increase of nearly six-fold from the $2.2 million that the company reported for the same period of 2004.
Atheros' fourth quarter net income, which equates to roughly 24 cents per share, was also up more than five hundred percent sequentially the company also recorded a net income of $2.2 million during the third quarter of 2005, based on generally accepted accounting principles (GAAP).
Atheros (Santa Clara, Calif.) reported fourth quarter revenue of $53.1 million, up 16 percent from the $45.8 million reported in the third quarter of 2005 and up 27 percent from the $41.7 million reported in the fourth quarter of 2004. Gross margins in the fourth quarter were 46.7 percent, the company said, exceeding its target range of 43 to 45 percent and above 43.5 percent gross margins recorded in the third quarter.
"We had a tremendous fourth quarter across all metrics, with revenue gains in each product category: retail, PC OEM, enterprise/carrier and consumer electronics," said Craig Barratt, president and CEO of Atheros, in a statement.
Atheros also announced the appointment of former Marvell Semiconductor executive Gary Szilagyi to the position of vice president of worldwide sales, replacing Tom Foster.