Revenues for the second quarter increased 4% sequentially and 22% as compared to the same quarter in 2010 to $478.6 million, at the high end of our guidance about 1%, 4% sequentially. Our quarterly revenue reached the highest level in over 10 years and is Atmel’s ninth consecutive quarter of sequential revenue growth. Excluding the Smart Card sold at the end of the third quarter in 2010, revenues increased 31% when compared to the second quarter of 2010.
We set another record for gross margin. Second quarter 2011 gross margin was 51.8%. The second quarter gross margin was an 80 basis point improvement from the 51% we reported last quarter and ahead of our guidance of 51%.
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I’m very glad to hear Atmel’s doing well 🙂
“Inventories of $367 million increased by $48 million in the second quarter compared to the prior quarter. The increase was primarily from our microcontroller and maXTouch product lines as we continue to reduce lead times to improve customer service and support the growth of our Microcontroller business”
While they try to make it sound intentional, having an extra $50 million in excess inventory can’t possibly be a good sign! Makes me wonder if Atmel isn’t feeling the pinch of some tough competition putting a lot of pressure on the 8-bit market (ARM Cortex M0, etc.), and a slow but steady move towards 32-bit. Several of their competitor’s have been extremely aggressive about rolling out new products with compelling price points these past two years, and it always occured to me that Atmel is the company most likely to feel the pinch moving away from 8-bit to an era of $1 32-bit MCUs (TI’s MSP430 line also seems seriously over-priced today in that respect).
Probably because of the many arduinos in the market
Ouch … apparently the inventory issue scared some other people as well. Their stocks is down 13% in a day, though the price does seem pretty cheap since they still have a lot of good IP in their portfolio.