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RDA Microelectronics Announces Fourth Quarter And Full Year 2012 Financial Results

SHANGHAI, China, Feb. 7, 2013 (GLOBE NEWSWIRE) -- RDA Microelectronics (Nasdaq:RDA) ("RDA Microelectronics" or the "Company"), a fabless semiconductor company that designs, develops and markets wireless SoC and Radio Frequency (RF) semiconductors for cellular, connectivity and broadcast applications, today announced its financial results for the fourth quarter and full year ended December 31, 2012.

Fiscal Year 201 2 Financial Highlights (in US dollars):

  • Revenue was $391.3 million, increasing 35.5% from the $288.9 million in the previous year.
  • Gross margin was 32.2% compared to 34.5% in 2011.
  • Cash generated from operations was $59.1 million, compared to $63.2 million in the previous year.
  • GAAP net income was $52.9 million, or $1.12 per diluted ADS, compared to $51.6 million, or $1.11 per diluted ADS, in 2011.
  • Non-GAAP net income was $63.4 million, or $1.34 per diluted ADS, compared to $55.5 million, or $1.19 per diluted ADS in the previous year.
  • The Company paid a special dividend of $0.20 per ordinary share, or $1.20 per ADS, returning $55.6 million of capital to shareholders.

Fourth Quarter Financial Highlights (in US dollars):

  • Revenue was $115.6 million, exceeding the Company's guidance of $100 million to $110 million, and representing an increase of 5.8% from the $109.3 million in the previous quarter and 40.4% from the $82.4 million in the fourth quarter of 2011.
  • Gross margin was 31.7%, compared to 31.1% in the previous quarter and 35.3% in the fourth quarter of 2011.
  • GAAP net income was $13.4 million, or $0.28 per diluted ADS, compared to $13.5 million, or $0.28 per diluted ADS, in the previous quarter and $16.6 million, or $0.37 per diluted ADS, in the fourth quarter of 2011.
  • Non-GAAP net income was $16.4 million, or $0.34 per diluted ADS, compared to $16.7 million, or $0.35 per diluted ADS, in the previous quarter and $17.4 million, or $0.39 per diluted ADS, in the fourth quarter of 2011.

For a reconciliation of non-GAAP financial measures, please refer to the tables included in this press release.

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