Volterra Semiconductor Corp. reported financial results for its third quarter ended September 30, 2009. Net revenue for the third quarter of 2009 was $29.7 million, a 30% increase compared with net revenue of $22.8 million for the second quarter of 2009. GAAP net income was $3.4 million, or $0.14 per share (diluted), for the third quarter of 2009, compared with GAAP net income of $1.1 million, or $0.04 per share (diluted), for the second quarter of 2009.
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 $4.8 million, or $0.19 per share (diluted), for the third quarter of 2009, compared to non-GAAP net income of $2.4 million, or $0.10 per share (diluted), for the second quarter of 2009.
"The third quarter was another strong quarter for Volterra, demonstrating our continuing ability to execute against our plan," said Volterra President and CEO Jeff Staszak. "As expected, our revenues and profitability were within the updated ranges we provided when we raised our earnings guidance last month."
