Touting higher demand in the past two quarters and an apparent recovery, Atmel today announced higher revenues and a narrower net loss.

The semiconductor maker posted revenues of $335 million for Q3, a sequential increase of 5.2 percent over Q2's $318. Revenues were 12.2 percent higher than the same quarter a year ago.

Atmel narrowed its net loss in Q3 to $31.8, a significant decline from Q2's $44 million loss and the year ago quarter's $102 million loss.

"Demand for our products has increased significantly over the last two quarters," said George Perlegos, president and CEO, in a statement. "As we are seeing this trend continue into the next couple of quarters, it provides us with a clear indication that the upturn for the next semiconductor cycle has arrived."

Key contributors to the company's growth included smart card integrated circuits, system level ARM based ASICs, and serial EEPROMs. Atmel also introduced several new products during Q3 including a fourth generation controller for disk on key and a high performance, low cost digital camera processor.

Atmel officials said that the company has reduced overall debt by $245 million over the last year while cash has only decreased by $90 million.

For Q4 Atmel anticipates revenues to climb between 3 and 5 percent, raising its guidance from last quarter. 

By: DocMemory
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