This Day On The Street
Continue to site
ADVERTISEMENT
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

RDA Microelectronics Announces Second Quarter 2013 Financial Results And Establishes Quarterly Dividend Policy

Second Quarter Revenue Increased 13.5% Sequentially and 16.9% Year-Over-Year Gross Margin Expanded to 32.3% Declares $0.10 Per ADS Cash Dividend for Third Quarter 2013

SHANGHAI, China, Aug. 6, 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 second quarter ended June 30, 2013 and a recurring quarterly cash dividend policy.

Second Quarter Financial Highlights (in US dollars):

  • Revenue was $110.3 million, within the Company's guidance of $109 million to $111 million, and representing an increase of 13.5% from the $97.1 million in the first quarter and 16.9% from the $94.4 million in the second quarter of 2012.
  • Gross margin was 32.3%, compared to 32.1% in the previous quarter and 31.0% in the second quarter of 2012.
  • GAAP net income was $13.7 million, or $0.29 per diluted ADS, compared to $10.7 million, or $0.22 per diluted ADS in the previous quarter and $12.2 million, or $0.25 per diluted ADS, in the second quarter of 2012.
  • Non-GAAP net income was $16.9 million, or $0.35 per diluted ADS, compared to $13.7 million, or $0.28 per diluted ADS, in the previous quarter and $15.2 million, or $0.32 per diluted ADS, in the second quarter of 2012.

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

Second Quarter and Recent Business Highlights:

  • Secured SP3T switch design wins for 2G and 3G Samsung smartphones, demonstrating RDA's commitment to grow its global smartphone market share in emerging markets as well as developed regions, such as Europe.
  • Expanded sampling of the RDA8810 EDGE baseband smartphone solution and introduced sampling of the RDA8811 EDGE baseband for tablets.
  • Introduced 802.11n WiFi combo chip integrating WiFi 802.11n, Bluetooth and FM on a single die for smartphone and tablet applications in China and the emerging markets.

In regards to the Company's second quarter financial results, Vincent Tai, chairman and CEO of RDA Microelectronics commented, "Second quarter revenue increased 17% over the prior year quarter as a result of increased sales of our baseband products as well as higher volumes of our WiFi combo chip. We are pleased with our continued progress to penetrate the ultra-low cost feature phone market with our highly integrated 2G baseband solution. The 8851, which represents the large majority of our shipments, continues to be well-received by customers as we increase our silicon content and addressable market.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs