Lost in last night's celebration over Apple (
AAPL) (great report by the way) was a nice performance by wireless semi play Atheros Communications (
ATHR).
Atheros Communications, Inc. develops semiconductor system solutions for communication integrated circuit products. Its products comprise wireless local area network, mobile WLAN, Ethernet, bluetooth, global positioning system, and personal access systems.
I had cut this position down a bit late last week, but they executed very well and beat already the increase in guidance they had offered on September 8th. (
Sep 10, 2009: Bookkeeping - Starting Atheros Communications)
In a separate statement, Atheros also raised its third-quarter adjusted profit outlook to 35 cents to 39 cents per share, from its prior view of 29 cents to 31 cents a share.
It now expects revenue of $145 million to $150 million for the quarter, up from its prior forecast of $129 million to $134.6 million.
Analysts were in for 38 cents on $147M after the guide up so aside from beating that, they similarly increase guidance for the next quarter. A
closer look... a whopping 40% sequential revenue growth to $156M, and unlike most companies posting sequential revenue growth (far lower than 40%), they even had a 13% increase in year over year sales (a rarity). EPS at 46 cents.
- Revenue in the third quarter was a record $156.6 million, up 40 percent from the $112.2 million reported in the second quarter of 2009 and 13 percent higher than the $138.1 million reported in the third quarter of 2008.
- Non-GAAP gross margins in the third quarter were 48.4 percent, compared to 47.4 percent reported in the second quarter of 2009, and 49.4 percent in the third quarter of 2008.
