Atmel Corp. (ATML) Wednesday reported first-quarter net loss of $47.7 million or $0.11 per share, compared with net income of $20.4 million or $0.05 per share last year.
Results for the recent quarter included a $42.8 million charge related mainly to restructuring activities and $21.6 million of legal-related settlement charges.
Excluding items, adjusted earnings for the quarter were $13.6 million or $0.03 per share, compared to $35 million or $0.08 per share a year ago.
Revenues for the quarter were $329 million, down 8% from $358 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.03 per share on revenues of $321.35 million for the quarter. Analysts' estimates typically exclude special items.
During the quarter, Atmel repurchased 2.4 million of its common shares at an average price of $6.52 per share.
San Jose, California-based Atmel makes microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency components.
For comments and feedback: editorial@rttnews.com