SAN FRANCISCO Microsemi Corp. Thursday (July 28) reported fiscal 2005 third quarter net sales of $75.2 million, up 3 percent from the $73.3 million that the company reported for the second quarter and up 17 percent from the $64.1 million it reported for the same period in 2004.
Using generally accepted accounting principles (GAAP), the company posted a net income of $9.8 million, or 15 cents per diluted share, for the fiscal third quarter, a dramatic 180 percent increase from the $3.5 million, or 6 cents per share, it posted for the third quarter of 2004 and a 63 percent increase from the $6 million, or 9 cents per diluted share, it posted for the fiscal second quarter of 2005. Microsemi's fiscal third quarter ended July 3.
"Microsemi is executing on a strategy laid out over three years ago that is enabling us to continue to outpace most all of our peers," said James Peterson, Microsemi president and CEO, in a statement. "We remain focused on improving operational efficiencies while leveraging our technical capabilities and new products to grow revenues.''
Microsemi (Irvine, Calif.) expects sales to increase between 3 and 5 percent for the fiscal fourth quarter of 2005.