SmallCapReview.com has been a leading site for information on small cap stocks, penny stocks and microcaps since 1999, to receive the free SmallCapReview newsletter and be entered to win a Free iPod Touch visit http://www.smallcapreview.com.
Microchip Technology (Nasdaq: MCHP) $30.76. Announced yesterday after market close that its Board of Directors has declared a quarterly cash dividend on its common stock of 34.3 cents per share. The dividend is payable on September 2, 2010, to stockholders of record on August 19, 2010. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003, and has increased the dividend 26 times since then.
“Microchip completed the June 30, 2010, quarter with $1.5 billion of cash and investments on its balance sheet, and the Company continues to demonstrate strong cash flow characteristics in its business,” said Steve Sanghi, President and CEO. “Microchip’s Board of Directors authorized an increase in the quarterly dividend to 34.3 cents per share, which continues to reflect our ongoing commitment to returning value to shareholders.”
What They Do: Microchip Technology Incorporated is a leading provider of microcontroller, analog and Flash-IP solutions, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide.
AMD (NYSE: AMD) $7.50. Today announced that Apple has selected the world renowned ATI Radeon graphics solutions for the new line of Apple iMac and Mac Pro tower. Now featured in Apple Stores as well as online retail, ATI Radeon graphics offer outstanding power and performance as the standard configuration for the new iMac and Mac Pro tower which will hit store shelves soon.
“Apple buyers demand the best, and AMD’s award-winning ATI Radeon graphics enable exceptional visual experiences for iMac users,” said Matt Skynner, corporate vice- president and general manager, GPU division, AMD. “AMD has conducted extensive testing and research to create superior graphics products for the iMac. This research is designed to dramatically enhance the Mac-user experience so that Apple users can enjoy responsive performance and play the newest games.”
What They Do: Advanced Micro Devices is an innovative technology company dedicated to collaborating with customers and technology partners to ignite the next generation of computing and graphics solutions at work, home and play.
AboveNet (NYSE: ABVT) $52.46. Today announced results for the second quarter and six months ended June 30, 2010. Revenue for the second quarter of 2010 was $100.7 million, a 14.4% increase from $88.0 million for the second quarter of 2009. Included in revenue was contract termination revenue of $0.6 million for the second quarter of 2010, compared to $0.8 million, for the second quarter of 2009. Excluding contract termination revenue from each period, revenue would have been $100.1 million and $87.2 million, respectively, an increase of $12.9 million, or 14.8%.
Operating income for the second quarter of 2010 was $28.4 million, a 21.9% increase from $23.3 million for the second quarter of 2009, reflecting the effect of the increases in the components of operating income discussed above. Net income for the second quarter of 2010 was $16.3 million, or $0.62 per diluted share, compared to $24.6 million, or $0.97 per diluted share, for the second quarter of 2009. This decrease is due to the income tax provision for the second quarter of 2010 of $11.1 million, compared to an income tax provision of $0.2 million for the second quarter of 2009. Substantially all of the income tax provision for the second quarter of 2010 is non-cash.
Adjusted EBITDA for the second quarter of 2010 was $45.7 million, compared to $38.5 million for the second quarter of 2009. Adjusted EBITDA Margin for the second quarter of 2010 was 45.4%, compared to 43.8% for the second quarter of 2009.
What They Do: AboveNet, Inc. provides high-bandwidth connectivity solutions for business and carriers.
About SmallCapReview
Copyright SmallCapReview. SmallCapReview.com is a leading site for news on small-caps, penny stocks and microcaps. SmallCapReview has built a loyal opt-in following for their investor products by providing a newsletter at no cost, sent to subscribers, highlighting select stocks in play, to register visit http://www.smallcapreview.com. To follow us on Twitter visit http://twitter.com/SmallCapReview.
