Spansion had Q3 sales of $307.6m up from Q2’s $255.7m for an operating loss of $55.4m compared to a loss of $3m in Q2, and a net loss of $64.9m in Q3 compared to a net profit of $341.8m in Q2.
"Spansion delivered another strong quarter, with record non-GAAP earnings, new customer design wins and strong performance out of our manufacturing facilities," said John Kispert, Spansion’s CEO.
At the end of Q3, Spansion had cash of $330m, compared to $254m at the end of Q2. Gross margin slipped from 23% in Q2 to 10% in Q3.
On a GAAP basis Spansion generated $58.7m cash flow from operations in Q3. The cash flow from operations includes approximately $13m of bankruptcy related payments in the quarter.
For the fourth quarter of 2010, Spansion estimates GAAP net sales in the range of $315m to $330m million and non-GAAP adjusted net sales in the range of $320m to $340m.