News

Volterra Reports Record Second Quarter Revenue and Income

July 28, 2010 by Jeff Shepard

Volterra Semiconductor Corp. reported financial results for its second quarter ended June 30, 2010. Net revenue for the second quarter of 2010 was $40.2 million, a 77% increase from $22.8 million in the second quarter of 2009, and an 11% increase from $36.3 million in the first quarter of 2010. GAAP net income was $9.0 million, or $0.34 per share (diluted), a 738% increase from $1.1 million, or $0.04 per share (diluted) in the second quarter of 2009, and a 17% increase from $7.7 million, or $0.30 per share (diluted), in the first quarter of 2010.

Volterra also reported net income and basic and diluted net income per share on a non-GAAP basis. Non-GAAP net income excludes the effect of stock-based compensation expense, net of tax. Non-GAAP net income was $10.5 million, or $0.40 per share (diluted), for the second quarter of 2010, a 334% increase from $2.4 million, or $0.10 per share (diluted), in the second quarter of 2009, and a 18% increase from $8.9 million, or $0.35 per share (diluted), in the first quarter of 2010.

"Volterra achieved record revenue and income, reaching the $40 million revenue and $0.40 non-GAAP EPS milestones in the second quarter," said Volterra President and CEO Jeff Staszak. "This is an exciting time for the company as we continue to grow our business with our differentiated low voltage integrated power solutions."