SiRF Q3 results: $91.2M, up 43%

SiRF Q3 results: $91.2M, up 43%
SiRF Technology today reported unaudited financial results for its third quarter ended September 30, 2007. Net revenue in the third quarter of 2007 was $91.2 million, an increase of 43 percent from $63.7 million reported in the third quarter of 2006. Gross margin in the third quarter of 2007 was 52.2 percent, as compared to 55.6 percent in the third quarter of 2006.

"We believe our Q3 performance has been exceptional. We have once again posted record revenues on record shipment volumes with excellent profitability and strong bookings momentum. Our acquisition of Centrality and broadening of our product portfolio with the System-on-Chip (SoC) products has been enthusiastically welcomed by customers, and the SoC products are also breaking revenue and shipment volume records," said Dr. Michael Canning, President and CEO.

SiRF revenue breakdown was a bit less than 65% from automotive (85% PNDs in this segment), a bit more than 20% from wireless and 15% from consumer and mobile computing products.

“We are on track to maintain 70% share on the PND market for 2007”, said CEO Michael Canning.

Tuesday, October 30th 2007

Nav & Telematics | Sport and Outdoor | Location Based Services | Tech & Innovation | Market Data | Finance & Legal | People and Jobs | Voices of the industry | Press Releases