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Spreadtrum Records Q1 2009 Loss of USD 8.3 Mln

Spreadtrum PR, 5/27/09

Chinese wireless baseband chipset provider Spreadtrum Communications (Nasdaq: SPRD) has announced its unaudited financial results for Q1 2009, with total revenues reaching USD 8.2 mln, down 79% YoY and 20% QoQ.

Net loss for the quarter came to USD 8.3 mln, compared with net income of USD 2.8 mln in Q1 2008 and a net loss of USD 52.3 mln in Q4 2008.

In Q1 2009, revenue from baseband and RF semiconductors decreased 77% YoY and 14% QoQ to USD 8.0 mln. Unit shipments of baseband and RF semiconductors were down 41% YoY and up 13% QoQ. Revenue from turnkey solutions was down 95% YoY and 78% QoQ to USD 0.2 mln.

The company has also issued its financial results for Q4 2008, with total revenues reaching USD 10.2 mln, down 79% YoY and 49% QoQ. 2008 full-year revenues fell to USD 109.9 mln, a decrease of 24% over the 2007 figure.

Net loss in Q4 2008 came to USD 52.3 mln, compared with net income of USD 10.2 mln in Q4 2007 and a net loss of USD 31.3 mln in Q3 2008. Net loss for 2008 reached USD 78.2 mln, compared with net income of USD 21.1 mln in 2007.

In Q4 2008, revenue from baseband and RF semiconductors decreased 79% YoY and 50% QoQ to USD 9.3 mln. Unit shipments of baseband and RF semiconductors were down 61% YoY and 27% QoQ. Revenue from turnkey solutions decreased by 74% YoY and by 23% QoQ to USD 0.9 mln.

Spreadtrum expects Q2 2009 revenue to be USD 10 mln to USD 14 mln.

To view Spreadtrum's full earnings report, please click here.

Keywords: handset chip Q1 2009 revenue SPRD Spreadtrum wireless fiscal report profit semiconductor

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