SAN JOSE, Calif.Programmable logic supplier Actel Corp. Thursday (April 29) said first quarter sales rose on both a sequential and year-to-year basis, and the company said it expects sales to increase further in the second quarter.
Actel (Mountain View, Calif.) reported first quarter revenue of $52.3 million, coming in slightly below consensus analyst expectations of $52.7 million, according to Yahoo Finance. Sales increased by 5 percent sequentially and 8 percent year-to-year, Actel said.
Actel reported a net income based on generally accepted accounting principles of $2.9 million, or 11 cents per share, up from a GAAP net income of $1 million in the fourth quarter of 2009. In the year ago quarter, Actel posted a loss of $3 million.
Non-GAAP net income, excluding charges, was $3.8 million in the first quarter, Actel said, up from $3.3 million in the previous quarter and up from $800,000 in the year-ago quarter.
Actel said it expects second quarter revenue to grow by 8 to 12 percent sequentially.