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SMSC employs engineers with a wide range of experience in MOS/VLSI circuit design, from experienced industry veterans to new engineers recently graduated from the top universities. Its engineering team is built on a wide range of mixed-signal and analog expertise. The Company's engineering design centers are strategically located in New York, Texas and Arizona to take full advantage of the technological expertise found in each area and to closely cater to a widespread base of customers located across the country.
SMSC is headquartered in Hauppauge, New York, with operations in North America, Asia and Europe. Engineering design centers are located in Arizona; New York; Texas; Karlsruhe, Germany; Göteborg, Sweden; and Chennai, India.
* First quarter revenue of $103.5 million,
* Non-GAAP gross margin of 56.4 percent,
* Non-GAAP earnings per share of $0.47.
SMSC (NASDAQ:SMSC) announced financial results for its first quarter of fiscal 2012, ended May 31, 2011.
Total revenue for the first quarter of fiscal 2012 was $103.5 million, an increase of approximately 7 percent when compared to the same period in the prior year and an increase of approximately 2 percent sequentially. This included about $800 thousand in sales from SMSC’s acquisition of BridgeCo during the period between the closing of the acquisition on May 19, 2011 and the end of the quarter. Non-GAAP gross margin was 56.4 percent and the GAAP gross margin was 53.9 percent. Non-GAAP net income was $11.0 million, or $0.47 per diluted share, compared to non-GAAP net income of $7.6 million, or $0.33 per diluted share in the first quarter of fiscal 2011. GAAP net income for the first quarter of fiscal 2012 was $6.2 million, or $0.26 per diluted share, compared to GAAP net income of $0.6 million, or $0.03 per diluted share for the same prior year period.
“SMSC reported a strong first quarter with revenue, non-GAAP gross margin and non-GAAP earnings per share exceeding expectations,” said Christine King, President & Chief Executive Officer. “We are excited about the acquisition of BridgeCo, which is a significant addition to our Wireless Audio product offering. Automotive revenue set another new record in the first quarter despite some weakness in our Japanese automotive business. PC revenue was up slightly on a year-over-year basis but down roughly four percent sequentially mainly due to consumer PC sales as well as Japanese customer related sales. However, our enterprise PC business remains healthy, which is the largest share of our overall PC sales. ”
Ms. King continued, “For the second quarter, we anticipate revenue to increase by approximately 8 to 10 percent sequentially, including about $8 million from the BridgeCo acquisition. We do not expect any further material impact as a result of the Japanese crisis and expect further growth in our automotive and consumer revenue. We continue to have major design win success as we broaden our product and intellectual property offerings which we believe will drive content and market share growth in each of our target markets.”
Additional information is available at www.smsc.com.
Avista Corp. (NYSE:AVA) has released "Building Shared Value for a Shared Future" its 2011 corporate responsibility report. In keeping with the company's sustainable business practices, the report is published online at avistautilities.com, key word: Shared Value. This is the third annual report on the company's operations. New this year is information about how the company is building shared value for stakeholders through three areas of focus: customer experiences, responsible resources and environmental stewardship.
Avista Corporation, an energy company, engages in the generation, transmission, and distribution of energy and energy-related businesses in the United States and Canada. The company operates through two segments, Avista Utilities and Advantage IQ.
Cleantech Transit Inc (OTCPK:CLNO)
Biomass use can be considered part of the terrestrial carbon cycle-the balanced cycling of carbon from the atmosphere into plants and then into soils and the atmosphere during plant decay. When biopower is developed properly, emissions of biomass carbon are taken up or recycled by subsequent plant growth within a relatively short time, resulting in low net carbon emissions.
Beneficial biomass sources generally maintain or even increase the stocks of carbon stored in soil or plants. Beneficial biomass also displaces carbon emissions from fossil fuels, such as coal, oil or natural gas, the burning of which adds new and additional carbon to the atmosphere and causes global warming.
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. Cleantech Transit Inc has expanded its focus to invest directly in specific green projects that could maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech Transit Inc. has selected to invest in Phoenix Energy (www.phoenixenergy.net).
Cleantech Transit, Inc. is pleased to announce it has completed an agreement whereby it can earn a larger ownership percentage in the 500 KW bio mass Merced Project than previously announced.
Cleantech can now earn in up to 40% of the Merced Project up from the original 25% the Company announced. The 40% ownership stake will be based on the total cost incurred to the Project to date, in addition Cleantech can invest the in the Series B shares of Phoenix Energy equal to or greater to the direct investment made in 500 KW project.
For more information about CLNO, visit www.cleantechtransitinc.com
Arch Coal, Inc. (NYSE:ACI) made several organizational announced to address the needs of the expanded company following the acquisition of International Coal Group, Inc. (NYSE:ICG) and its 13 active mining complexes. "I am confident that the operating leadership structure we are announcing will help us deliver the full potential of this powerful combination," said John W. Eaves, Arch's president and chief operating officer. The company named three group presidents: Ken Cochran, Gary Bennett and Charles Snavely, as well as Samuel Kitts to director of operational development. All four individuals will report to Paul Lang, Arch's senior vice president of operations. Cochran has been named group president with responsibility for Thunder Basin Coal Company, the Arch Western Bituminous Group, Arch of Wyoming and the Otter Creek development. Cochran served as President of Thunder Basin Coal Company for six years and previously worked 20 years for TXU. Reporting to Cochran will be Thunder Basin Coal Company President Keith Williams and Arch Western Bituminous Group President Gene DiClaudio.
Arch Coal, Inc. engages in the production and sale of steam and metallurgical coal from surface and underground mines located throughout the United States As of December 31, 2010, it operated or contracted out the operation of 23 active mines; and owned or controlled approximately 4.4 billion tons of estimated proven and probable recoverable reserves.
National Health Partners, Inc. (OTC:NHPR)
National Health Partners, Inc. is a national healthcare savings organization that provides discount healthcare membership programs to uninsured and underinsured people through a national healthcare savings network called "CARExpress." CARExpress is one of the largest networks of hospitals, doctors, dentists, pharmacists and other healthcare providers in the country and is comprised of over 1,000,000 medical professionals that belong to such PPOs as CareMark and Aetna. National Health Partners, Inc primary target customer group is the 47 million Americans who have no health insurance of any kind. The company's secondary target customer group includes the millions of Americans who lack complete health insurance coverage.
National Health Partners, Inc., a leading provider of discount healthcare membership programs, announced the recent signing of two new significant marketing agreements. These two clients provide very different opportunities and continue to expand the reach of CARExpress into new marketplaces.
By launching their own unique internet marketing program, the first group should be able to provide a widespread push into the on-line market to produce an excellent volume of new CARExpress sales into the pipeline. In addition, the second group offers a reach into the wholesale marketplace where CARExpress will be wrapped into other programs to enhance the value of the overall package to the consumer. They would consider this non-traditional business and a great opportunity to expand their reach as well as recognition of the CARExpress program nationwide.
The company plans to announce the rollout of these new marketing campaigns as well as several others over the next few weeks.
CARExpress membership programs are attractive to physicians, hospitals and other healthcare providers because CARExpress programs help healthcare providers and provider networks increase their customer base. In addition, healthcare providers are paid at the time of service, reducing the billing procedures and cost associated with insurance and allowing the provider to immediately collect payment. CARExpress membership programs are also attractive to provider networks because they increase the likelihood that healthcare providers will affiliate with them so as to gain access to a greater number of potential customers and patients.
For more information about National Health Partners, Inc. visit its website at www.nationalhealthpartners.com
SolarWinds, Inc. (NYSE:SWI) announced that it has entered into a definitive agreement to acquire privately-held TriGeo, a provider of log and event management software, for $35 million cash. The company expects the acquisition to close in the third quarter of 2011.
SolarWinds, Inc. designs, develops, markets, sells, and supports enterprise information technology (NYSE:IT) infrastructure management software to IT professionals. The company was founded in 1999 and is headquartered in Austin, Texas.
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