O2Micro Reports Financial Results For Third Quarter; 43% Increase In Net Sales
O2Micro® International Ltd. reported its financial results for the third quarter ended September 30, 2007. Net sales for the third quarter of 2007 were $45.1 million, an increase of 18% from the preceding quarter, and up more than 40% from the third quarter of the prior year. Net income for the third quarter of 2007 was $11.4 million or 29 cents per fully diluted American Depositary Share (ADS).
Third quarter research and development (R&D) expenditures were $8.7 million, or 19% of net sales. The company now employs over 620 engineers working on R&D worldwide. In the third quarter, O2Micro’s intellectual property (IP) portfolio expanded by more than 7%, with 346 patents issued worldwide through Q3.
"We are very pleased with our continued revenue growth. Q3 revenue growth of 18% over the prior quarter reflects market share gain in our core markets as well as expansion of new products," commented Sterling Du, Chairman and CEO of O2Micro. "The company continues to increase shareholder value through the introduction of innovative technologies and by increasing the company’s patent portfolio to 346 issued worldwide in Q3, 2007."