By Tess Stynes
Atmel Corp's (ATML) swung to a fourth-quarter loss as the chip
maker was hurt by losses related to a foundry arrangement,
restructuring-related charges and other items, as well a decline in
revenue.
Shares fell 1.7% to $7.02 in after-hours trading. Through the
close, the stock is up 9% this year.
The company's products include controllers used in computing and
other applications, as well as touchscreens used in smartphones and
other devices--a key growth area.
Atmel in November said that it expected continued growth in its
microcontroller business and the launch of Microsoft Corp.'s (MSFT)
Windows 8, where its has a number of design wins, would provide
growth drivers in the latest quarter and during 2013.
Atmel reported a loss of $12.3 million, or three cents a share,
compared with a year-earlier profit of $32.9 million, or seven
cents a share, a year earlier. Excluding losses related to a
foundry arrangement, restructuring-related costs and other items,
adjusted earnings were down at seven cents from 14 cents. Analysts
polled by Thomson Reuters most recently projected earnings of seven
cents.
Revenue decreased 10% to $345.1 million. The company in November
forecast $328 million to $352 million.
Gross margin fell to 38.1% from 48.1%. Excluding items, gross
margin was down at 41.6% from 48.7%.
Write to Tess Stynes at tess.stynes@dowjones.com
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