Micrel reveals growth in revenue

Micrel, a supplier of communications and Ethernet IC solutions, has announced financial results for the first quarter ended 31 March 2010, with revenues of $67.2m (£43.6m).

This showed an increase of $6m, or 9.7 per cent, from $61.2m in the fourth quarter of 2009 and an increase of $20.2m, or 43.0 per cent, from the same quarter last year.

First-quarter 2010 GAAP net income of $9.7m, or $0.16 per diluted share, compares to fourth-quarter 2009 GAAP net income of $4.1m, or $0.07 per diluted share, which includes $0.06 per diluted share of restructuring expense, and GAAP net income of $1.5m, or $0.02 per diluted share, in the same period in 2009.