Microsemi reports rise in sales and profit
Microsemi – the leading producer and retailer of PowerDsine midspans – has reported a significant increase in profit and sales for the first quarter of 2010. Net sales totalled $112.8 million (£69.7 million) for the period to December 27th 2009 – up 2.8 per cent from the fourth quarter of 2009.
Gross profit margin in the quarter increased by 100 basis points to 49.6 per cent, – compared with 48.6 per cent in the previous three months. Operating margin was also up, at 23 per cent, while net income increased to $21.1 million (£13 million).
James Peterson, chief executive officer and president at Microsemi, said: "We are pleased with our first quarter results which showed continued strength in our business, especially in our analogue mixed signal markets."
In November Microsemi also announced promising financial results, with a 2.5 per cent increase in profit achieved compared with the previous quarter.
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