Volterra Semiconductor Corp. (Fremont, CA), a provider of analog and mixed-signal power management semiconductors, reported financial results for its second quarter ended June 30, 2005. Net revenue for the second quarter of 2005 was $13.2 million, an increase of 44 percent over net revenue of $9.1 million for the second quarter of 2004, and a 10 percent sequential decrease from net revenue of $14.6 million for the first quarter of 2005.
Operating margin improved to 8.7 percent, up from 6.0 percent a year ago. Net income was $1.1 million, or $0.04 per share (diluted), for the second quarter of 2005, compared with net income of $0.6 million, or $0.03 per share (diluted), for the second quarter of 2004. Non-GAAP net income was $1.2 million, or $0.05 per share (diluted), for the second quarter of 2005, compared to non-GAAP net income of $0.7 million, or $0.03 per share (diluted), for the second quarter of 2004.
"Our second-quarter financial results were in line with the guidance we gave in April," said Volterra President and CEO Jeff Staszak. "As predicted, we saw a slow-down in our graphics business due to the phase down of platforms ahead of the launch of new graphics cards. We remain encouraged by the design-in activity in graphics as well as in the other markets we serve, and anticipate solid revenue growth as our customers launch their new products later this year and in early 2006."
