Microchip maker Atmel (ATML) , said Thursday its second-quarter revenue rose 12.6% from a year ago to $464.3 million.
The company said it did not file its second quarter Form 10-Q by the extended due date of Aug. 14, and is unable to provide additional financial information for the second quarter due to an internal review of past stock option grants.
The company anticipates third-quarter core revenue will be flat on a sequential basis; due to the recent sale of French subsidiary
, total revenue will be down about 4% to 6% when compared with the second quarter. Analysts polled by Thomson First Call were expecting sales of $446.9 million in the second quarter and $463 million in the third quarter.
The company's cash, cash equivalents and short-term investments totaled $310.3 million, following redemption of all outstanding convertible subordinated debentures during the quarter ended June 30.
"During the first six months of this fiscal year we increased revenues over 8% compared to the same period last year, eliminated all subordinated convertible debt and exited the quarter with over $300 million in cash and short-term investments," the company said.
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