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Volterra Reports Fourth-Quarter, Fiscal Year 2004 Results

February 07, 2005 by Jeff Shepard

Volterra Semiconductor Corp. (Fremont, CA), a provider of high-performance analog and mixed-signal power management semiconductors, reported financial results for its fourth quarter and fiscal year ended December 31, 2004. Net revenue for the fourth quarter of 2004 was $14.6 million, an increase of 125% over net revenue of $6.5 million for the fourth quarter of 2003, and a 16% sequential increase from net revenue of $12.6 million for the third quarter of 2004.

Net income was $2.7 million, or $0.10 per share (diluted), for the fourth quarter of 2004, compared with a net loss of $0.5 million, or $0.10 per share (diluted), for the fourth quarter of 2003. Volterra also reported net income and basic and diluted net income per share on a non-GAAP-basis. Non-GAAP net income was $2.9 million, or $0.11 per share (diluted), for the fourth quarter of 2004, compared to non-GAAP net loss of $0.5 million, or $0.10 per share (diluted), for the fourth quarter of 2003.

For the full fiscal year 2004, net revenue increased to $43.9 million, an increase of 75% over net revenue of $25.1 million for fiscal year 2003. Net income was $5.1 million, or $0.22 per share (diluted), for the fiscal year ended December 31, 2004, compared with a net loss of $4.0 million, or $0.74 per share (diluted), for fiscal year 2003. Non-GAAP net income was $5.8 million, or $0.25 per share (diluted), compared to non-GAAP net loss of $3.9 million, or $0.71 per share (diluted), for the fiscal year ended December 31, 2003.