Spansion: Fiscal 3Q12 Financial Results

(in US$ million)	3Q11	3Q12
Revenues	258.2	239.7
*Growth*		-7%
Net income (loss)	7.8	5.1

Spansion Inc. announced operating results for its third fiscal quarter ended September 30, 2012.

On a U.S. GAAP basis, Spansion reported third quarter net sales of $239.7 million, gross margin of 32.7%, operating income of $14.0 million, net income of $5.1 million, and earnings per share of $0.08.

On a nonâ€‘GAAP basis, net sales totaled $239.7 million, gross margin was 36.3%, operating income was $31.5 million, net income was $22.6 million, and diluted EPS was $0.36.

3Q2012 Financial Highlights:

Revenue of $239.7 million
Non-GAAP adjusted gross margin of 36.3%
Non-GAAP adjusted operating income of $31.5 million or 13.1% of revenue
Adjusted EBITDA of $46.8 million
Non-GAAP EPS of $0.36 per share
Cash, cash equivalents and short term investments of $328 million

3Q2012 Business Highlights:

Continued market leadership and focused execution
Leading embedded NOR market with comprehensive product portfolio
Expanded product portfolio with new serial and NAND products
Over 520 new design wins across all segments with an increase in wins for newer products

"As a result of operational execution and customer adoption of new differentiated products in embedded markets, we delivered another profitable quarter with growing cash flow generation," said John Kispert, president and CEO of Spansion. "Our leadership in the embedded market continues as our Flash memory solutions play a critical role in the next generation of electronics. We plan to continue to introduce new products based on our leading technology."

To read the earnings call transcript