Second fiscal quarter 2013 net revenue was $55.3 million, up from $43.0 million for the second fiscal quarter of 2012.
- Second Quarter of Fiscal 2013 Net Revenues: $55.3 Million
- Second Quarter of Fiscal 2013 Net Income: $13.7 Million
- Second Quarter of Fiscal 2013 Diluted Earnings Per Share: $0.16
InvenSense, Inc. (NYSE: INVN), the leading provider of MotionTracking(TM) devices, announced 2013 fiscal second quarter results.
Net revenue for the first six months of fiscal 2013 was $94.5 million, up from $78.7 million for the first six months of fiscal 2012.
Net income for the second fiscal quarter of 2013 was $13.7 million up from $11.5 million for the second fiscal quarter of 2012. Net income for the first six months of fiscal 2013 was $21.3 million, up from $20.5 million for the first six months of fiscal 2012.
Diluted earnings per share for the second fiscal quarter of 2013 was $0.16. Diluted earnings per share for the first six months of fiscal 2013 was $0.24.
InvenSense ended the second fiscal quarter of 2013 with $166.4 million in cash and cash equivalents and investments, compared to $157.8 million at the end of fiscal year 2012.
Management Qualitative Comments
"We are pleased with our second quarter results given market uncertainties and changes in the overall Mobile market," said Steven Nasiri, CEO and Chairman. "Our second quarter results met the midpoint of our stated range; we are encouraged with continuing and expanding market adoption of Motion Interface and in particular our MotionTracking solutions. Further, the second quarter was another strong quarter of new design wins with new potential customers in Mobile Handset and Tablet products; we are seeing strong adoption of our leading 6-axis and 9-axis products. We believe our second half is well positioned for a major expansion of our total addressable market through increased adoption of our MotionTracking solutions and overall increases in the motion interface attach rates in the Mobile markets, and many new emerging markets."
Second Quarter Fiscal 2013 Earnings Conference Call
A conference call will be held at 1:30 p.m. Pacific Time to discuss the quarter's results and management's current business outlook. To listen to the conference call, please dial (866) 730.5770 ten minutes prior to the start of the call, using the passcode 41274341. International callers, please dial (857) 350.1594. A taped replay will be made available approximately two hours after the conclusion of the call and will remain available for one week. To access the replay, please dial (888) 286.8010 and enter passcode 98877680. International callers please dial (617) 801.6888. The conference call will be available via a live webcast on the investor relations section of InvenSense`s web site at http://www.invensense.com. An archived webcast replay will be available on the web site for three months.
InvenSense Inc. (NYSE: INVN) is the leading provider of MotionTracking(TM) solutions for consumer electronic devices in the world. The company's patented Nasiri-Fabrication platform and patent-pending MotionFusion(TM) technology address the emerging needs of many mass-market consumer applications such as, improved performance, accuracy, and intuitive motion and gesture based interfaces. InvenSense technology can be found in consumer electronic markets including smartphones, tablets, gaming devices, optical image stabilization, and remote controls for Smart TVs. InvenSense is headquartered in Sunnyvale, California and has offices in China, Taiwan, Korea, Japan, and Dubai. More information can be found at www.invensense.com .