Atmel Reports Fourth Quarter and Full Year 2011 Financial Results

Full Year 2011 Revenue of $1,803 Million, Up 10%

(PRNewswire) — Atmel® Corporation (Nasdaq: ATML), a leader in microcontroller and touch solutions, today announced financial results for its fourth quarter and full year ended December 31, 2011.  


GAAP


Non-GAAP


Q4 2011

Q3 2011

Q4 2010


Q4 2011

Q3 2011

Q4 2010

Net Revenues

$383.6

$479.4

$457.8


$383.6

$479.4

$457.8

Gross margin

48.1%

50.1%

49.5%


48.7%

50.4%

50.0%

Operating margin

12.8%

29.2%

20.5%


17.9%

25.9%

24.5%

Net income

$32.9

$116.7

$223.1


$67.5

$124.0

$119.2

Diluted EPS

$        0.07

$0.25

$0.47


$        0.14

$        0.26

$        0.25



(In millions, except earnings per diluted share and percentages)

Revenue for the fourth quarter of 2011 was $383.6 million, a 20% decrease compared to  $479.4 million for the third quarter of 2011, and 16% lower compared to $457.8 million for the fourth quarter of 2010.  GAAP net income totaled $32.9 million or $0.07 per diluted share for the fourth quarter of 2011. This compares to $116.7 million or $0.25 per diluted share for the third quarter of 2011.  Included in net income for the third quarter was a $33.4 million gain from the sale of the company’s corporate headquarters.  The fourth quarter 2011 net income of $32.9 million or $0.07 per diluted share compares to net income of $223.1 million or $0.47 per diluted share for the fourth quarter of 2010, which included $118.1 million, or $0.25 per diluted share, primarily from releasing reserves for deferred tax assets. For the full year of 2011, net income was $315.0 million or $0.68 per diluted share, compared to net income of $423.1 million or $0.90 per diluted share for 2010.

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