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Volterra Announces Financial Results And Acquisition Of Element Energy

Stocks in this article: VLTR

FREMONT, Calif., Jan. 22, 2013 (GLOBE NEWSWIRE) -- Volterra Semiconductor Corporation (Nasdaq:VLTR), a leading provider of high-performance analog and mixed-signal power management semiconductors, today reported financial results for its fourth quarter and fiscal year ended December 31, 2012.

Net revenue for the fourth quarter of 2012 was $40.3 million, a 4% increase over net revenue of $38.8 million for the fourth quarter of 2011, and a 4% decrease from net revenue of $42.1 million for the third quarter of 2012. GAAP net income was $4.6 million, or $0.18 per share (diluted), for the fourth quarter of 2012, a 20% decrease from GAAP net income of $5.7 million, or $0.22 per share (diluted), for the fourth quarter of 2011 and a 25% decrease from GAAP net income of $6.1 million, or $0.23 per share (diluted), for the third quarter of 2012.

Volterra also reported net income and basic and diluted net income per share on a non-GAAP basis. Non-GAAP net income excludes the effect of stock-based compensation expense. Non-GAAP net income was $7.1 million, or $0.28 per share (diluted), for the fourth quarter of 2012, a 9% decrease from non-GAAP net income of $7.8 million, or $0.30 per share (diluted), for the fourth quarter of 2011 and a 18% decrease from non-GAAP net income of $8.7 million, or $0.33 per share (diluted), for the third quarter of 2012.

For the full year 2012, Volterra reported annual net revenue of $168.0 million. GAAP net income was $22.8 million, or $0.86 per share (diluted), for the fiscal year ended December 31, 2012, compared to GAAP net income of $20.6 million, or $0.79 per share (diluted), for the fiscal year ended December 31, 2011. Non-GAAP net income was $32.9 million, or $1.24 per share (diluted), for the fiscal year ended December 31, 2012, compared to non-GAAP net income of $28.9 million, or $1.10 per share (diluted), for the fiscal year ended December 31, 2011.

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