RDA Microelectronics Q2 Profit Rises - Quick Facts

(RTTNews) - RDA Microelectronics Inc. (RDA) reported that its second-quarter of 2013 GAAP net income was $13.7 million or $0.29 per ADS, up from $12.2 million, or $0.25 per ADS, in the second quarter of 2012.

Non-GAAP net income was $16.9 million, or $0.35 per ADS, compared to $15.2 million, or $0.32 per ADS, in the second quarter of 2012.

Revenue was $110.3 million, up from$94.4 million in the second quarter of 2012.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share and revenues of $109.68 million for the quarter. Analysts' estimates typically exclude special items.

The Board of Directors of the Company approved a new dividend policy, pursuant to which, starting from the third quarter of 2013, the Company will issue a recurring cash dividend every quarter in an amount to be determined by the Board of Directors based on the Company's financial performance and cash position in the preceding quarters.

Under this policy, the Board declared the Company's first quarterly cash dividend of $0.10 per ADS, each representing six ordinary shares of the Company, for the third quarter of 2013. The cash dividend will be payable on September 20, 2013 to shareholders of record at the close of business on August 30, 2013.

For the third quarter of 2013, the Company expects revenue to be in the range of $105 million to $115 million. The Company expects gross margins to be approximately 32.6 %. Analysts expect the company to report revenues of $116.93 million for the third-quarter.