Monday, July 23, 2012

Mindspeed Posts Results, Notes 3 LTE Small Cell Design Wins

Mindspeed reported quarterly net sales of $35.5 million and a loss per share of $0.12 on a non-GAAP basis, or a loss per share of $0.18 on a GAAP basis.

Product revenue from communications convergence processing (CCP) solutions contributed 41 percent of fiscal third quarter 2012 product revenues and decreased 4 percent sequentially from the prior quarter. Product revenue from high-performance analog (HPA) products represented 48 percent of fiscal third quarter 2012 product revenue and increased 8 percent sequentially from the prior quarter. Wide area networking (WAN) product revenue accounted for the remaining 11%.

In addition, Mindspeed noted three new LTE small cell basestation design engagements, including a new major European OEM.

“While the end markets we serve remain challenging, we delivered on our revenue forecast and grew wireless revenue to $4 million in the quarter, up from $2 million in the prior quarter,” said Raouf Y. Halim, Mindspeed’s chief executive officer. “Growth in our HPA and optical access infrastructure markets was offset by the expected slowdown in our core wireline business due to global weakness in wireline carrier capital expenditures.”

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