SHANGHAI, China, Aug. 7, 2014 (GLOBE NEWSWIRE) -- Montage Technology Group Limited (Nasdaq:MONT) ("Montage Technology" or "Montage" or the "Company"), a global fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets, today announced financial results for the second quarter ended June 30, 2014. Second Quarter 2014 and Recent Highlights:
- Attained revenue of $40.4 million, an increase of 13.6 percent sequentially and 59.8 percent year-over-year;
- Increased set-top box product revenue by 16.2 percent and memory interface product revenue by 5.7 percent over the prior quarter;
- Reported gross margin of 58.3 percent, compared to 63.9 percent last quarter;
- Achieved net income per diluted share of $0.24, and non-GAAP net income per diluted share of $0.30, after excluding non-cash expenses;
- Generated $10.0 million of cash from operations after excluding funding of the escrow account for the termination fee with signing of Merger Agreement; and
- Shareholders voted to approve the acquisition by Shanghai Pudong Science and Technology Investment Co. (PDSTI) for $22.60 per share.