Pericom Semiconductor has reported total net revenue of $41.5m for the fourth quarter of 2010, an increase of 40% as compared to $29.7m for the same period last year.
The company posted an operating income of $3.3m for the fourth quarter of 2010, compared to an operating loss of $1.01m for the same period last year.
For the fourth quarter ended July 3, 2010, the company posted net income of $4m, an increase of 267% compared to a net income of $1.1m for the same quarter a year ago. Net income per share was up 275% to $0.15 from $0.04 per share for year ago quarter.
For the full year ended July 3, 2010, Pericom reported revenue of $147m, compared to $129m in FY09. Operating income for the year was up 135% to $7.1m and net income was up 74% to $10.8m. Net income per diluted share increased to $0.42 from $0.24.
Alex Hui, president and CEO of Pericom, said: "We are pleased to report a sequential revenue increase, driven by increased demand from enterprise computing, networking and embedded applications. We continued to expand gross margin and control operating expenses, which led to a 31% improvement in operating results compared with last quarter.
"The book to bill ratio was significantly higher than one for the quarter just concluded which gives us a higher backlog entering Q1 fiscal 2011. We continue to uncover new opportunities to deploy our first and second generation high-speed serial connectivity offerings and we have begun to work with key customers on initial deployment of our third generation offerings."
