Micrel Reports Strong 2010 Third Quarter Financial Results
Micrel, Inc. announced financial results for the third quarter ended September 30, 2010. Third quarter revenues of $80.6 million increased by $6.7 million, or 9.1%, up from $73.9 million in the second quarter of 2010. The sequential increase in revenues was primarily due to improved demand in the industrial and communications end markets.
Compared to the same period last year, revenues were higher by $21.8 million, or 37.0%, due to higher overall demand from customers in most geographies and end markets. This is said to be reflective of the company’s successful initiatives to penetrate new high-growth markets, the release of a significant number of new products that are gaining market traction, an expanded sales force, solid operational execution and improved macro-economic conditions.