SUNNYVALE, Calif. -- -Actel Corp. here saw revenues jump to a record $50.7 million in the first quarter, compared with $46.0 million for the prior quarter and $40.8 million for the first quarter a year ago.
Including goodwill amortization and charges relates to the acquisition of Auto-Gate Logic Inc., net income in the first quarter was a record $8.1 million, or 32 cents per share, beating analysts' consensus estimates by a penny, according to First Call/Thomson Financial. This compares with $5.8 million, or 24 cents per share, in the prior quarter and $4.2 million, or 19 cents per share, in the first quarter a year ago -- an increase in net income of 39% from the prior quarter and of 92% from the first quarter a year ago.
"We're extremely pleased with our financial results for the first quarter," said John East, president and CEO. "We achieved record revenues while continuing to increase our backlog. The MX family continued its impressive growth with a second consecutive quarter of shipments in excess of one million units, and revenue on our SX family more than doubled from the prior quarter. Gross margin improvements and continued spending controls allowed net income to grow 25% over last quarter."