This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RDA Microelectronics Announces First Quarter 2013 Financial Results

Stocks in this article: RDA

SHANGHAI, China, May 7, 2013 (GLOBE NEWSWIRE) -- RDA Microelectronics (Nasdaq:RDA) ("RDA Microelectronics" or the "Company"), a fabless semiconductor company that designs, develops and markets wireless systems-on-chip and radio-frequency (RF) semiconductors for cellular, connectivity and broadcast applications, today announced its financial results for the first quarter ended March 31, 2013.

First Quarter Financial Highlights (in US dollars):

  • Revenue was $97.1 million, exceeding the Company's guidance of $96 million to $97 million, and representing an increase of 34.9% from the $72.0 million in the first quarter of 2012.
  • Gross margin was 32.1%, compared to 31.7% in the previous quarter and 35.9% in the first quarter of 2012.
  • GAAP net income was $10.7 million, or $0.22 per diluted ADS, compared to $13.4 million, or $0.28 per diluted ADS, in the previous quarter and $13.9 million, or $0.30 per diluted ADS, in the first quarter of 2012.
  • Non-GAAP net income was $13.7 million, or $0.28 per diluted ADS, compared to $16.4 million, or $0.34 per diluted ADS, in the previous quarter and $15.1 million, or $0.33 per diluted ADS, in the first quarter of 2012.

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

First Quarter and Recent Business Highlights:

  • Began sampling the 40nm single-die RDA8810 EDGE smartphone baseband.
  • Launched the RDA6861, a multimode front-end module for quad-band GSM/EDGE and WCDMA/CDMA/LTE handheld cellular devices.
  • Achieved volume production of EDGE transceivers for the Samsung Galaxy S ® III.
  • Announced volume shipments of GPS low noise amplifiers for Samsung 3G handsets.
  • Reported volume shipments of DVB-S tuners to Samsung Electro-Mechanics.
  • Priced an offering of 9,602,000 American Depositary Shares ("ADSs") including the underwriter overallotment allocations, each representing six ordinary shares of the Company. The Company offered 100,000 ADSs and the selling shareholders offered 9,502,000 ADSs. The Company received no proceeds on the sale of shares by the selling shareholders.

"First quarter revenue increased 35% year-over-year as a result of strong baseband shipments and increasing volumes of our WiFi combo chip for low-cost smartphones," said Vincent Tai, chairman and CEO of RDA Microelectronics. "Our 8851 baseband, the most integrated and advanced SoC for the high volume GSM handset market, reached record shipment levels in March enabling us to strengthen our position as the second leading supplier to China handset manufacturers. We also further expanded our penetration of the smartphone market with increasing shipments of our WiFi combo solutions and TD-SCDMA PA products as market demand improved following the Chinese New Year holiday.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs