Atheros 3Q Profit Nearly Quadruples As Sales Rise

SANTA CLARA, Calif. (AP) — Atheros Communications Inc., a maker of networking and wireless equipment parts, said Monday its third-quarter profit nearly quadrupled as sales jumped and it benefited from new orders.

The Santa Clara, Calif.-based company earned $38.6 million, or 60 cents per share, in the quarter that ended Sept. 30. That's up from the $10.1 million, or 16 cents per share, it earned a year earlier.

Adjusted profit totaled 46 cents per share, Atheros said, easily beating the 38-cent-per-share consensus estimate of analysts polled by Thomson Reuters.

Revenue rose 13 percent to $156.6 million from $138.1 million, also topping analysts' $147.3 million average estimate.

CEO Craig Barratt said the company was weathering the downturn well thanks to its product cycles and increased diversification of its business.

Atheros shares rose 83 cents, or 3 percent, to $28.52 in aftermarket trading after closing at $27.80, up 3.9 percent during regular hours.