Updated from 4:29 p.m. EDTAtheros ( ATHR) grew its bottom line more than 50% in the third quarter, as strong demand for wireless networking chips continued to buoy the company. Investors bid up shares of Atheros in extended trading, following the strong earnings report, a better-than-expected forecast for the current quarter and details of a new chip the company hopes will accelerate its push into consumer electronics markets. Shares of Atheros, which gained 5%, or $1.47, in regular trading Monday ahead of the earnings release, increased an additional 5.4% to $31.54 in extended trading. Atheros said the latest version of its ROCm Wi-Fi chip consumes 70% less power than existing products and is capable of drawing "virtually" zero power while operating in standby mode, making it ideal for battery-powered gadgets like smart phones and digital cameras that increasingly connect to the Internet. "We think this a tremendously competitive product, both for power-consumption, cost and form-factor reasons," CEO Craig Barratt told analysts in a post-earnings conference call. The real moneymaker for Atheros right now is its more established business providing chips for the wireless networking routers sold by retailers and telecommunications carriers. Sales in Atheros' networking group increased 17% sequentially, with strength in both the 802.11g, and the newer 802.11n, standards. According to Atheros, it now has deals to provide 802.11n chips to the top four retail vendors of Wi-Fi routers.