For second-quarter 2012,Hittite Microwave Corp of Chelmsford,MA,USA(which designs and supplies analog,digital and mixed-signal RF,microwave and millimeter-wave ICs,modules and subsystems as well as instrumentation)has reported revenue of$65.4m,down 4.6%on$68.5m a year ago but up 3.3%on$63.3m last quarter as revenue continues to recover from the low of$60.2m in Q4/2011.
Of total revenue,46.7%($30.5m)came from customers in the USA(down from 48.8%last quarter)and 53.3%($34.9m)came from outside the USA(up from 51.2%last quarter).
Gross margin has risen again,from 72.7%a year ago and 73.7%last quarter to 74.5%.Although down on$32m(46.8%of revenue)a year ago,operating income of$26.2m(operating margin of 40.1%of revenue)is up on$25.5m(40.2%of revenue)last quarter.
Although still down on$20.8m a year ago,net income has risen from$16m last quarter to$17.2m.However,this includes a$0.7m tax benefit related to the resolution of a tax audit.
During the quarter,total cash and cash equivalents rose by$1.5m,from$373.9m to$375.4m.
For third-quarter 2012,Hittite expects stable revenue of$65-67m and net income of$16-16.9m($0.52-0.55 per diluted share).
