FPGA supplier Actel Corp. today registered its first operating profit in several quarters and more than tripled its second-quarter net profits.
Net income for the second quarter was $1.4 million, or 5 cents per share, compared with $400,000, or 2 cents per share, in the comparable quarter of 2002, and $200,000, or 1 cent per share for the three months ended March 2003.
Actel's results have been boosted in the past by interest income, which in the year-ago quarter amounted to $803,000, helping push the company into the black despite reporting an operating loss. Interest income in the just ended quarter was $815,000.
Revenue for the quarter was $36.6 million, up 7% sequentially and year-over-year, at the high end of Actel's forecast.
"We're pleased to post our third consecutive quarter of sequential revenue growth," said John East, president and chief executive of Actel, Sunnyvale, Calif. "Continued acceptance by customers of our flash families and increased design activity for the sixth straight quarter bode well for the future."
Actel is forecasting third-quarter revenue will grow in the mid-single-digit range, with gross margin remaining flat at about 60%.