Full report here. Gross margins steady in the 44% range, and cash flow exploded.
- Gross margin was 44.1% compared to 44.6% in the previous quarter and 39.0% in 3Q09.
- Cash flows from operations were US$67.0 million, compared with US$35.2 million in the previous quarter and US$11.5 million in 3Q09.
- Spreadtrum Communications Inc., a Chinese company that makes semiconductors for wireless devices, said Wednesday that its third-quarter profit and sales surged, and it forecast fourth-quarter revenue above analysts' expectations.
- The company said net income was $19.5 million, or 37 cents per share, compared with $630,000, or a penny per share, a year earlier. The company said excluding stock-based compensation costs it would have earned 43 cents per share.
- Revenue jumped 151 percent to $96.2 million.
- Analysts surveyed by Thomson Reuters expected the company to earn 33 cents per share on revenue of $92.6 million.
- The company credited new products such as a chip that letsphones run three GSM SIM cards at the same time, which it said will boost sales outside China.
- Spreadtrum said it expects fourth-quarter revenue to be between $118 million and $125 million, topping analysts' consensus forecast of $102.6 million.
- In the third quarter, we successfully launched world's first triple SIM in single chip solution, the SC600L7. The ability to run three GSM SIM cards simultaneously in a single mobile handset offers an attractive solution for multiple-operator-markets and business users, and has already garnered positive feedback from customers inSouth America, Africa and several South Asia countries.