Atmel announced financial results for its fourth quarter and full year ended December 31, 2011. Revenue for the fourth quarter of 2011 was $383.6 million, a 20% decrease compared to $479.4 million for the third quarter of 2011, and 16% lower compared to $457.8 million for the fourth quarter of 2010.

GAAP net income totaled $32.9 million. This compares to $116.7 million for the third quarter of 2011. Included in net income for the third quarter was a $33.4 million gain from the sale of the company’s corporate headquarters. The fourth quarter 2011 net income compares to net income of $223.1 million for the fourth quarter of 2010, which included $118.1 million, primarily from releasing reserves for deferred tax assets.

For the full year 2011, revenue increased 10% to $1.80 billion, compared to $1.64 billion for 2010. Adjusting for the divestiture of the company’s Smart Card business that occurred at the end of the third quarter of 2010, full year 2011 revenue increased 15% from 2010. For the full year, net income (GAAP) was $315.0 million, compared to net income of $423.1 for 2010.