Microtune Announces Fourth Quarter and Year 2007 Financial InformationThursday, February 7th, 2008
Company Achieves Record Annual Revenue for 2007; 32% Year-over-Year Revenue Growth
PLANO, Texas — Microtune®, Inc. (NASDAQ: TUNE) today reported preliminary unaudited financial information for the quarter and year ended December 31, 2007.
Net revenue for the quarter ended December 31, 2007 grew by 37% to $22.8 million compared to the fourth quarter of 2006. For the full year 2007, net revenue grew by 32% to $91.1 million. For the fourth quarter of 2007, gross margin percentage was 51.9% and gross margin percentage for the full year 2007 was 51.0%.
- Microtune announced that it is collaborating with Tier-1 suppliers and aftermarket vendors to develop specialized, automotive-grade versions of its silicon TV tuner technology for car entertainment systems. As part of its strategy to drive its silicon tuner technology into automotive markets worldwide, the Company plans to introduce a state-of-the-art TV tuner integrated circuit targeted for in-car TV systems that enables digital entertainment at high speeds.
- Microtune also announced that its MicroTuner™ MT2060 tuner technology is being deployed in a car TV receiver system of Kenwood, a major worldwide manufacturer of automotive electronics. Kenwood uses four MT2060 tuners in a diversity TV entertainment system that delivers terrestrial digital TV broadcast and other data services for automotive applications.
- Microtune announced that its 3-in-1 TV tuner is being deployed in a digital television (DTV) converter set-top box approved by the National Telecommunications and Information Administration (NTIA) for the $1 billion coupon-eligible converter box program (CECB) targeted to American consumers in anticipation of the shut off of broadcast analog TV in February 2009.
- Through December 31, 2007, Microtune has shipped a cumulative historical total of 81.4 million silicon TV tuner chips.