SAN FRANCISCOMore semiconductor firms and suppliers reported quarterly results that surpassed analyst's expectations Wednesday (Jan. 27), but No. 1 fabless chip vendor Qualcomm Inc. disappointed the market by lowering revenue guidance for the year.
Qualcomm (San Diego) reported sales of $2.67 billion for the quarter ended Dec. 27, 2009, down 1 percent compared with the prior quarter but up 6 percent compared to the year-ago period. Net income for the quarter was $841 million, up 147 percent year-to-year and 5 percent sequentially, the company said.
For the current quarter, Qualcomm said it expects revenue to be between $2.4 billion and $2.6 billion, a range of down 2 percent to up 6 percent compared with the year-ago quarter.
Qualcomm lowered its guidance for the fiscal year, saying it now expects revenue of between $10.4 billion and $11 billion. The company had previously said it expected revenue of between $10.5 billion and $11.3 billion.
LSI Corp. (Milpitas, Calif.) reported revenue of $638 million for the fourth quarter of 2009, up 10 percent sequentially and up 5 percent year-to-year. The company posted a quarterly net income of $65 million based on generally accepted accounting principles (GAAP) after posting a net income of $52 million in the prior quarter and a loss of $606 million in the year-ago quarter.
LSI reported full-year 2009 revenue of $2.22 billion, down 17 percent from 2008. The company posted a GAAP net loss for 2009 of $48 million, compared to a GAAP net loss of $622 million in 2008.
For the current quarter, LSI said it expects to report sales of between $590 million and $620 million, with a GAAP net loss of about $1 million.
Intersil Corp. (Milpitas) reported fourth quarter 2009 revenue of $177.7 million, up 6 percent sequentially and 36 percent year-to-year. The company posted a net income of $22.4 million, an improvement from $12.3 million in the prior quarter and a loss of $1.9 billion in the year-ago quarter.
For the year ended Jan. 1, net revenue was $611.4 million, down 21 percent from fiscal 2008, Intersil said.
The company's net income for the year was $43.3 million, compared to a loss of $1 billion in fiscal 2008, it said.
Intersil said it expects revenue for the current quarter to increase 1 to 5 percent sequentially, reaching between $180 million and $187 million.
Chip equipment vendor Lam Research Corp. (Fremont, Calif.) reported revenue of $487.2 million for the quarter ended Dec. 27, 2009, up 53 percent from the prior quarter and up 72 percent from the year-ago quarter. Lam posted a net income for the quarter of $69.6 million, compared to a net
income of $16.8 million in the prior quarter and a net loss of $24.2 million in the year-ago quarter.
Test gear supplier Teradyne posted fourth quarter 2009 revenue of $267 million, up 2 percent from the prior quarter and 34 percent from the year-ago quarter. Net income for the quarter was $16.9 million, compared to a net income of $6.7 million in the prior quarter and a net loss of $385 million in the fourth quarter of 2008.
Teradyne (North Reading, Mass.) had revenue for 2009 of $819.4 million, down 26 percent from 2008. The company posted a loss for the year of $133.8 million, compared to a loss of $394.2 million in 2008.