Spreadtrum Communications (Nasdaq: SPRD) Trading at $9.32, Up $1.14. Announced Monday after market close its unaudited financial results for the first quarter ended March 31, 2010.
Total revenue increased 23% quarter-over-quarter and 534% year-over-year to US$52.1 million, exceeding the Company's previously guided range of US$40-43 million. Gross profit was US$23.7 million compared to US$17.8 million in the previous quarter and US$1.6 million in 1Q09. Gross margin was 45.5% compared to 42.2% in the previous quarter and 19.4% in 1Q09.
GAAP net income was US$6.6 million, compared with US$1.4 million in the previous quarter and a net loss of US$8.3 million in 1Q09. GAAP net income per basic and diluted ADS was US$0.14 and US$0.13, respectively, an improvement from US$0.03 per basic and diluted ADS in 4Q09 and a loss of US$0.19 per basic and diluted ADS in 1Q09.
What They Do: Spreadtrum Communications is a fabless semiconductor company that develops baseband and RF processor solutions for the wireless communications market.
Perfect World Co. (Nasdaq: PWRD) $26.88, Up $2.17. Announced Monday after market close its unaudited financial results for the first quarter ended March 31, 2010.
Total revenues were RMB625.0 million (USD91.6 million) in 1Q10, an increase of 2.8%, or RMB17.1 million, from RMB607.9 million in 4Q09, and an increase of 47.0%, or RMB199.9 million, from RMB425.1 million in 1Q09. Online game operation revenues were RMB569.7 million (USD83.5 million) in 1Q10, an increase of 5.2%, or RMB27.9 million, from RMB541.8 million in 4Q09, and an increase of 51.0%, or RMB192.5 million, from RMB377.2 million in 1Q09. The sequential growth in online game operation revenues was primarily attributable to the continued popularity of some of the Company's existing games and a series of successful in-game promotions and marketing activities.
Net income attributable to the Company's shareholders was RMB305.2 million (USD44.7 million) in 1Q10, an increase of 12.7%, or RMB34.3 million, from RMB270.8 million in 4Q09, and an increase of 41.6%, or RMB89.7 million, from RMB215.4 million in 1Q09. Non-GAAP net income attributable to the Company's shareholders was RMB327.0 million (USD47.9 million) in 1Q10, an increase of 11.7%, or RMB34.2 million, from RMB292.8 million in 4Q09, and an increase of 41.6%, or RMB96.1 million, from RMB230.9 million in 1Q09.
What They Do: Perfect World Co. is a leading online game developer and operator based in China.
The LGL Group (AMEX: LGL) Trading at $11.65, Up $3.45. Announced Monday after market close results for the quarter ended March 31, 2010. Total revenues for the quarter ended March 31, 2010 were $10,701,000, an increase of 41.9% from the comparable period in 2009. Net income for the first quarter of 2010 was $1,066,000 compared with a net loss of ($1,008,000) for the same period in 2009. Diluted earnings per share was $0.47 for the first quarter of 2010 compared to diluted loss per share of ($0.46) for the same period in 2009.
Revenue growth was primarily due to increased demand from existing customers for existing products in our Telecom, Military, Instrumentation, Space and Avionics market segments. These customers include Cisco, Raytheon, Ericsson, Honeywell, GE, Agilent Technologies, Northrop Grumman, Rockwell Collins and Harris RF, among others.
What They Do: The LGL Group, Inc., through its wholly owned subsidiary MtronPTI, manufactures and markets highly engineered electronic components used to control the frequency or timing of signals in electronic circuits.
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