Third Quarter 2013
• Net sales decreased 2% quarter-over-quarter to
• Introduced our new SM2246EN SATA III client SSD controller targeting PC SSDs, hybrid SSDs and NAND-cache storage solutions• Started initial sales of our SATA III client SSD controller to several module maker customers targeting both retail channels and local Chinese notebook OEMs• Introduced our new SM3267 ultra high-performance, cost-effective USB3.0 flash drive controller• Secured design-wins for SM3267 from most of our existing USB flash drive customers, including many top-tier global OEMs• Began production of new long-term Samsung UHS-1 microSD card program using its 19nm TLC NAND flash
GAAP net income for the third quarter of 2013 increased quarter-over-quarter to
1 Non-GAAP measures represent GAAP measures excluding the impact of stock-based compensation, acquisition-related charges, foreign exchange gain (loss), litigation expenses, gains from settlement of litigation, impairment of long-term assets, and other non-recurring items. For reconciliation of non-GAAP to GAAP results and further discussion, see accompanying financial tables and the note "Discussion of Non-GAAP Financial Measures" at the end of this press release.
Third Quarter 2013 Financial Review
Commenting on the results of the third quarter,
"In the third quarter, our Mobile Storage sales grew further led by solid eMMC controllers sales growth and a modest rebound in our card controller sales.
Our SSD+embedded sales, led by continued eMMC controller sales growth, increased approximately 10% sequentially this quarter and, for the first three quarters of this year, have increased approximately 110% compared to the same period a year ago. Our eMMC controller sales continue to strengthen with our high performance and cost competitive solutions targeting both global flagship devices as well as the low cost smartphone and tablet markets. These solutions support our NAND flash customers in winning global eMMC memory market share and we believe that with our eMMC design-win momentum, we are on track to achieve 15 to 20% of the global market for eMMC controllers this year.
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