SHANGHAI, China, Nov. 13, 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 third quarter ended September 30, 2014. Third Quarter 2014 Highlights:
- Attained revenue of $46.0 million, an increase of 13.8 percent sequentially and 53.1 percent year-over-year;
- Increased memory interface product revenue by 52.2 percent over the prior quarter;
- Reported gross margin of 57.9 percent and operating margin of 20.9 percent;
- Achieved net income per diluted share of $0.33, and non-GAAP net income (which excludes non-cash expense items) per diluted share of $0.40; and
- Generated $5.8 million of cash from operations after excluding $20.4 million funding of the escrow account for the second half of the termination fee associated with Merger Agreement with Shanghai Pudong Science and Technology Investment ("PDSTI").