, which designs and develops analog-intensive mixed-signal integrated circuits, said Monday it swung to a third-quarter profit from the year-ago period, helped by higher revenue and better gross margins.
The Austin, Texas-based company earned $4.73 million, or 8 cents a share, in the quarter, compared with a loss of 745,000, or 1 cent a share a year ago. Adjusted for items, earnings were 26 cents a share in the most recent quarter. On that basis, analysts surveyed by Thomson First Call were expecting earnings of 23 cents a share in the most recent quarter.
Third-quarter revenue rose 11.2% from a year ago to $115.5 million, surpassing analysts' expectation of $114.3 million in the most recent quarter.
The company expects revenue of $108 million to $113 million in the fourth quarter, well below analysts ' estimates of $123.6 million.
Third-quarter gross profit margins rose 940 basis points to 54.9%.
"We are at the beginning of several strong potential product cycles in both our mobile handset and broad-based mixed-signal businesses," the company said. "So while the near-term outlook remains relatively muted, we feel very good about the long-term growth potential and health of the business."
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