Atheros Communications, a developer of integrated semiconductor system services for communications products, has reported a GAAP net loss of $4.8m, or $0.08 per diluted share, for the fourth quarter of fiscal year ended December 31, 2008, compared to a GAAP net income of $13.4m, or $0.22 per diluted share, for the same period in 2007.
Revenue in the fourth quarter of 2008 was $98.3m, compared to $114.3m reported in the fourth quarter of 2007.
Revenue in 2008 was $472.4m, up 13% from the $417m reported in 2007. Net income in accordance with GAAP for 2008 was $18.9m, or $0.30 per diluted share. In 2007, GAAP net income was $40m, or $0.67 per diluted share.
Craig Barratt, president and CEO of Atheros, said: The business environment in the fourth quarter was clearly difficult, however I am proud of our accomplishments in 2008 in which we posted strong financial results and expanded our portfolio of industry-leading wireless and wireline communications solutions.
While we are cautious about the near-term and are carefully managing operating expenses, we are also encouraged by our design win opportunities as we enter 2009 and remain committed to serving our customers through industry-leading technology innovation.
