AMIS Semiconductor Reports Third-Quarter 2004 Results
AMIS Holdings Inc., parent company of AMI Semiconductor Inc. (AMIS, Pocatello, ID), a leader in the design and manufacture of application-specific integrated circuits, reported results for the third quarter ended September 25, 2004. Third-quarter 2004 revenue was $131.2 million, a decrease of 2% over the second-quarter 2004 revenue and 12% above the third quarter of last year. Gross margin for the third quarter of 2004 was 48.4%, an increase of 160 basis points sequentially and 450 basis points year over year.
Net income for the third quarter of 2004 increased 5% sequentially to $16.2 million, or $0.19 per fully diluted share, compared to net income of $15.4 million, or $0.18 per fully diluted share, for the second quarter of 2004 and net income of $1.7 million, or $0.28 per share, for the third quarter of 2003. Pro-forma net income in the third quarter of 2003 was $9.2 million, or $0.12 per share.
Revenue for the first nine months of 2004 increased 20% to $394.0 million from $328.6 million in the first nine months of 2003. Net income for the first nine months of 2004 was $45.0 million, or $0.52 per fully diluted share, compared to a net loss of $3.8 million in the first nine months of 2003, or $1.06 per share. This is an increase of 147% when compared to pro-forma net income for the first nine months of 2003 of $18.2 million, or $0.59 per share.