WASHINGTON (dpa-AFX) - Atmel Corp. (ATML) reported that its fourth quarter net income was $32.9 million or $0.07 per share down from $223.1 million or $0.47 per share for the fourth quarter of 2010. The prior year quarter results included $118.1 million, or $0.25 per share, primarily from releasing reserves for deferred tax assets.
Non-GAAP net income for the fourth quarter of 2011 totaled $67.5 million or $0.14 per diluted share, compared to non-GAAP net income of $119.2 million or $0.25 per diluted share for the year-ago quarter.
Revenue for the fourth quarter of 2011 was $383.6 million, 16% lower compared to $457.8 million for the fourth quarter of 2010.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share on revenues of $388.05 million for the quarter. Analysts' estimates typically exclude special items.
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