Integrated Silicon Solution reports first-quarter results

Technology manufacturer Integrated Silicon Solution has reported its financial results for the first fiscal quarter ended 31 December 2010, including a reported revenue of $66.1m, an increase of 30.8 per cent over the same quarter last year.

Gross margin for the first quarter was 34 per cent, compared to 37.8 per cent in the previous quarter and 39.8 per cent in the the same period of 2009, which included a 7.7 per cent net benefit from sales of previously reserved inventory.

GAAP net income in the first quarter of fiscal 2011 was $7.2m, or $0.26 per diluted share, compared to GAAP net income of $11.8m, or $0.43 per diluted share, for the preceding quarter and $7.2m, or $0.28 per diluted share, in the first quarter of the previous year.