May. 4, 2012 (China Knowledge) - Spreadtrum Communications Inc<SPRD>, a fabless semiconductor company based in Shanghai
which manufactures chips for mobile phones, has posted US$24.3 million-net profit for the first quarter of this year, less than US$27.5 million in the same period of last year.
The net profit for the first quarter 2012 was also lower than US$35.2 million from a quarter earlier.
During the period from January to March 2012, the Nasdaq-listed firm reaped US$161.1 million in revenue, more than US$137.1 million it earned in the corresponding period of 2011.
Gross profit for the quarter ended Mar. 31, 2012, increased 5.9% year on year from US$57.9 million to US$61.3 million, with a gross margin of 38%.
Spreadtrum Communications had US$233.1 million in cash and term deposit with maturity dates over 90 days at the end of last month, whereas it had US$265.7 million at the end of last year.
The fabless semiconductor supplier also expects its revenue for the second quarter of 2012 to be in the range of US$170 million to US$175 million, with a gross margin of approximately 37%.