Mindspeed 4Q07 Update
Revenues for the 4Q 2007 were $35.3 million, up 5% sequentially. Revenue from multiservice access VoIP processors increased by 13% forming 28% of the quarter’s revenues. High-performance analog products showed an increase of 4% totaling contribution of 30% to the revenues while WAN communications remained flat by contributing 42% towards the overall revenues.
Geographically, Asia-Pacific contributed half of the revenues while Americas earned 39% of the revenues. Europe contributed 11%. Cisco was the only 10% end customer.
Operating expenses were $23.2 million for the quarter with R&D spending of $12.9 million, around 56% of total Opex. SG&A consumed $10.4 million during the quarter.
Major factors driving record revenues included production on design wins of past 3-4 years in the carrier VoIP business by key customers like Nokia Siemens Networks, Alcatel-Lucent and LGE. These equipments were used for wireline, wireless and FMC applications worldwide. Some more design wins in this quarter came from Alcatel-Lucent, Nokia Siemens Networks, ZTE, Huawei and Calix.
In the PON market it had 60 wins across high-performance analog portfolio with customers such as Tellabs, Huawei, Enterasys, EMCORE, MergeOptics, and Askey. It also had some wins for WAN portfolio with customers including Nortel, Huawei, ETI and RAD Data.
During the period it made addition to Comcerto VoIP processors targeting Class 5 switch replacement market in access networks. Besides it also introduced high-density processor enabling networking equipment to terminate data and signaling system 7 (SS7) traffic using high level data link control protocol which adds to Mindspeed’s Multi-Channel synchronous communications controller (MUSYCC™) portfolio.
On the management side, Donald R Beall retired from the board who was with the company since it spun off from Conexant.
