Atmel announced financial results for its second quarter ended June 30, 2011. Revenues were $478.6 million, a 4% increase compared to $461.4 million for the first quarter of 2011, and a 22% increase compared to $393.4 million for the second quarter of 2010. Adjusting for the Smart Card divestiture completed at the end of the third quarter of 2010, second quarter 2011 revenues increased 31% from the second quarter of the prior year.

Net income, on a GAAP basis, totaled $90.9 million for the second quarter of 2011. This compares to first quarter 2011 net income of $74.6 million. Included in first quarter 2011 results were restructuring charges of $21.2 million, related to personnel reductions at Rousset, France following the sale of our wafer fabrication and Smart Card businesses.

The second quarter 2011 net income compares to a net loss of $36.4 million for the second quarter of 2010, which included $107.6 million, of charges related to the sale of the company's manufacturing operations in Rousset, France.