Sigmatel Sales Triple

The flash memory chipmaker's revenue jumps to $99.34 million from $31.5 million in the year-ago quarter.
Publish date:

Sales and earnings at



each more than tripled in the first quarter, as the chip designer crushed the Street's expectations on Tuesday.

The company, which supplies chips for flash memory MP3 players including


(AAPL) - Get Report

iPod Shuffle, earned $25.53 million, or 67 cents a share, in the quarter. That was up markedly from the $6.93 million, or 18 cents a share, the company earned in the year-ago period.

Sigmatel's revenue jumped to $99.34 million in the quarter from $31.5 million in the prior-year period.

Excluding certain noncash gains and expenses, the company would have earned $25.4 million, or 67 cents a share, up from $7.91 million, or 21 cents a share a year earlier.

On this basis, analysts polled by Thomson First Call were expecting the company to earn 46 a share on $84.93 million in sales. The company predicted in January that it would earn 39 cents to 44 cents a share in the quarter excluding stock compensation charges on sales ranging from $76 million to $83 million.

In the second quarter, Sigmatel expects to earn $18.1 million to $21.3 million on sales ranging from $86 million to $95 million. Excluding stock compensation costs, the company predicted earnings of $18.3 million to $21.5 million, or 48 cents to 57 cents a share.

The Street had forecast that they company would earn 40 cents a share in the current period on $81.43 million in sales.

In the after-hours markets, Sigmatel's stock was up 6 cents, or less than 1%, to $30.76. The company's shares closed regular trading on Tuesday up $1.01, or 3.4%, to $30.70.