On Semi records highest quarterly gross margin percent
On Semiconductor has reported first quarter revenue of $550.2million, a sequential increase of 11% and a year on year increase of 45%.
The audio and power management specialist announced it expects second quarter revenue of $565m to $580m.
On Semi says the growth is a result of new product developments and acquisitions such as the purchase of California Micro Devices for $113m.
"In the first quarter of 2010, we recorded the highest quarterly gross margin percent in the company's history," said Keith Jackson (pictured), On Semi's president and ceo. "Through new product development, as well as products and capabilities gained from our successful acquisitions, we continue to transform our product portfolio and increase our value proposition to customers. Even with the cash purchase of California Micro Devices … the company exited the first quarter with approximately $560.7m of cash and cash equivalents."
