Volterra Semiconductor Corporation reported financial results for its quarter ended September 30, 2012. Net revenue for the third quarter of 2012 was $42.1 million, a 3% decrease from $43.6 million in the second quarter of 2012, and a 2% increase from $41.3 million in the third quarter of 2011. GAAP net income was $6.1 million, or $0.23 per share (diluted), a 1% increase from $6.0 million, or $0.22 per share (diluted) in the second quarter of 2012, and a 13% decrease from $6.9 million, or $0.26 per share (diluted), in the third quarter of 2011.
Volterra also reported net income and diluted net income per share on a non-GAAP basis. Non-GAAP net income excludes the effect of stock-based compensation expense. Non-GAAP net income was $8.7 million, or $0.33 per share (diluted), in the third quarter of 2012, a 2% increase from $8.5 million, or $0.32 per share (diluted), in the second quarter of 2012, and a 4% decrease from $9.1 million, or $0.35 per share (diluted), in the third quarter of 2011.
"We are pleased that we will have greater growth in 2012 than 2011 after another challenging year from a macro economic standpoint," said Volterra President and CEO Jeff Staszak. "I am optimistic that 2013 will bring more growth as the macro economic situation rebounds, our customers return to a normalized growth mode and as new product cycles materialize."
