SAN FRANCISCOCiting market share gains and improving business conditions in end markets, mixed-signal IC vendor SMSC Corp. Wednesday (Jan. 6) said it posted sales of $87.2 million for the quarter ended Nov. 30, 2009, up 16 percent sequentially and up 4 percent year-to-year.
SMSC (Hauppauge, N.Y.) recorded a net income in accordance with generally accepted accounting principles of $6.8 million, or 30 cents per diluted share, down from $9.1 million, or 41 cents per share, for the year-ago period.
"Both our portable and analog ASSP product lines achieved record revenues in the third quarter of fiscal 2010 and our automotive sales more than doubled from the low point of the downturn," said Christine King, SMSC's president and CEO, in a statement.
SMSC said it expects revenue for the current quarter to decline seasonally to between $78 million and $82 million.
"Though we are moving into our seasonally low period, we are encouraged by the apparent health of the semiconductor supply chain and expect to continue to grow market share as we enter the new calendar year," King said.