Atmel Corporation: Potential Turnaround Story- Internal Initiatives & Targeted Acquisitions Are Building Momentum - Early Signs of Touch Uptick by BrokerBank Securities, Inc.
NEW YORK, May 12, 2014 /PRNewswire/ -- Atmel Corporation (NASDAQ: ATML) Coming off a positive earnings surprise in the April 30 first-quarter release, ATML appears poised for fundamental improvement with revenue of $337.4 million, which was 2% higher year over year and beating consensus estimates by north of 3%. In the prior year quarter, Atmel reported revenue of $329 million. The increase in revenues was driven by improved performance in microcontroller business and new product introductions, including SmartConnect, which integrates Atmel's ultra-low power microcontrollers and wireless connectivity solutions.
The Company has aggressively engaged the Windows 8 touch market with the goal of becoming a leading supplier. ATML touch controllers have been Windows 8 certified on 70 different Ultrabook and tablet devices and is involved in over 100 different Windows 8 initiatives. Atmel appears poised to begin a new phase of margin expansion on improved revenue growth as virtually all of its target market segments are growing persistently. There is also a promising partnering arrangement for a new metal-mesh based touch sensor solution that provides cost and performance advantages and could be a strong new revenue contributor for 2014.
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