AnalogicTech Reports Financial Results for the Third Quarter 2010
Advanced Analogic Technologies, Inc. (AnalogicTech) reported financial results for the third quarter ended September 30, 2010. Net revenue for the third quarter of 2010 was $25.0 million, a decrease of 4.4% over net revenue of $26.1 million for the third quarter of 2009 and a sequential increase of 7.9% from net revenue of $23.1 million for the second quarter of 2010.
In accordance with U.S. generally accepted accounting principles (GAAP), net loss for the third quarter of 2010 was $1.3 million, or $0.03 per diluted share. Included in the results for the third quarter of 2010, the Company recorded a one-time tax benefit of $3.4 million as a result of a settlement with the IRS for the 2005 and 2006 tax years. This compares to a GAAP net loss of $1.0 million, or $0.02 per diluted share for the third quarter of 2009, and a GAAP net loss of $3.9 million, or $0.09 per diluted share, for the second quarter of 2010.