Sandisk, Citrix, Freescale, PMC Sierra and Rambus post Q3 earnings

Some more Q3 earningsSandisk, Citrix, Freescale and PMC Sierra all say they have hit or exceeded targets while Rambus posted its results too.

Sandisk reported a 39 percent jump in profit as memory chip sales surged. It reported third-quarter profit of $322.1 million, compared to $231.3 million for the year-earlier period. Revenue was $1.23 billion, up from $935.2 million. Chief executive Eli Harari cited “stable pricing and substantial cost reductions” among the factors for the positive results.

“For 2011, we are bullish about continuing growth in our diversified channels, including further substantial inroads for our embedded storage products in smart phones, tablet PC’s and other mobile devices,” Harari added.

Sandisk’s product revenue totalled $1.14 billion, up 40 percent from the year-earlier period. However, licence and royalty revenue was $96 million, down 21 percent year-over-year.

Freescale also reported Q3 growth. Income from operations for the three months ending 1 October was $1 million. Quite a jump from its $18 million loss in the second quarter of 2010 and a loss of $261 million in the third quarter of 2009.

Its adjusted operating earnings  were $158 million, compared to earnings of $136 million in the second quarter of 2010 and $12 million in the third quarter of 2009.

Microcontroller net sales were $418 million in the third quarter of 2010 compared to $387 million in the second quarter of 2010 and $294 million in the third quarter of 2009. RF, Analog and Sensor net sales were also on the rise bringing in $272 million in Q3, compared to $254 million in the second quarter of 2010 and $208 million year on year.

Cellular net sales were down at $90 million compared to $133 million in the last quarter and $122 million year on year.

“Third quarter results continued our momentum with growth in revenues and profitability for Freescale,” said Rich Beyer, chairman and CEO. “All of our core businesses grew sequentially and year over year, and we continued to solidify our embedded processing solutions leadership with consecutive record quarterly design wins.”

Citrix hit $472 million in revenue compared to $401 million the same period last year making for 18 percent growth. Net income for the third quarter of fiscal 2010 was $88 million, or $0.46 per diluted share, compared to $53 million, or $0.29 per diluted share, for the third quarter of 2009.

Product licence revenue increased 18 percent. Revenue from licence updates also grew 15 percent.

Rambus struggled. Revenue for Q3 was $31.7 million, down 18 percent from the previous quarter. It blamed this on lower patent royalty revenue, but then, it would. 

Year on year, revenue was up 14 percent, which it said was “recognised from the agreements signed with Samsung during the first quarter of 2010.” Revenue for the nine months ended September 30, 2010 was $232.5 million, up 183 percent over the same period last year.

“Revenue for the quarter was down sequentially as anticipated patent license renewals did not complete by quarter end, however, those negotiations are active and proceeding well,” said Harold Hughes, president and chief executive officer at Rambus.

“During the quarter, we did sign a patent license agreement with Nvidia for certain memory controller patents on a going forward basis and expect to receive the first payment in November.”

The quarter was bitter sweet for PMC-Sierra. It reported Q3 revenue of $162.3 million, which was just about in line with its own forecasts.

Meanwhile, PMC announced it will buy Wintegra, a provider of network processors for mobile backhaul equipment, for $240 million. PMC will finance the deal with balance sheet cash. Wintegra has 165 employees, with most of its developers in Ra’anana, Israel and Austin, Texas.

The deal is expected to close in Q4. PMCS said the deal should be immediately accretive.