EDIT: as I typed this the stock has given back almost the entire gain. Ho hum. Well at least it is filling its gap promptly.
Not that valuation matters, but the company should make in excess of $1 this year. Frankly based on guidance for the next quarter we could be talking $1.15 for the year but let's use $1 for kicks. So for a growth rate of a couple hundred percent year over year, you get a 11x PE ratio. EDIT: 10x PE ratio as the stock sells off. Sounds reasonable. ;) (full report here)
Via Reuters:
- Fabless semiconductor company Spreadtrum Communications Inc (SPRD) posted a quarterly profit as it shipped more third-generation chips and forecast third-quarter revenue above analysts' estimates.
- For the third quarter, the wireless baseband chipset provider expects revenue of $88-96 million, with flat or slightly lower gross margins on a sequential basis. Analysts were expecting revenue of $76.7 million, according to Thomson Reuters I/B/E/S.
- For the second quarter, the Shanghai-based company reported net income of $11.1 million, or 21 cents per American Depository Share (ADS), compared with a net loss of $13.1 million, or 29 cents per ADS, a year ago. Excluding items, it earned 34 cents per ADS. Analysts on average were expecting earnings of 23 cents per ADS on revenue of $67.1 million.
- Revenue rose to $71.4 million from $16.2 million recorded a year ago.
- Unit shipments of 3G semiconductors grew nearly 17-fold over last year.
Long Spreadtrum Communications in fund; no personal position
