Spreadtrum Communications, a provider of wireless baseband chipset, has reported total net revenue of $71.5m for the second quarter of 2010, an increase of 341% compared to $16.2m for the same period last year.
The company posted an operating income of $12.64m for the second quarter of 2010, compared to an operating loss of $13.89m for the same period last year.
For the second quarter ended June 30, 2010, the company posted net income of $11.1m, compared to a net loss of $13.1m for the same quarter a year ago. Net income per diluted share was $0.21, compared to a net loss of $0.29 per diluted share for year ago quarter.
Spreadtrum chief financial officer Shannon Gao said that looking ahead to the second half of 2010, they are confident that their solid and growing base of loyal customers, the expected increase in revenue contribution from both domestic and international sales, coupled with favorable trends in the TD market, and their plans to deepen product portfolio, will support continued growth in the second half of the year.
"For the third quarter 2010, we expect revenue to be in the range of $88 and $96m with flat or slightly lower gross margins on a sequential basis.
"Although we are facing toughening competition as we gain market shares in both GSM and TD business, we believe that our value proposition and ability to execute on our key initiatives will support healthy and sustainable margin levels that are in line with our long-term targets," Gao said.
