Revenues for the second quarter increased 4% sequentially and 22% as compared to the same quarter in 2010 to $478.6 million, at the high end of our guidance about 1%, 4% sequentially. Our quarterly revenue reached the highest level in over 10 years and is Atmel’s ninth consecutive quarter of sequential revenue growth. Excluding the Smart Card sold at the end of the third quarter in 2010, revenues increased 31% when compared to the second quarter of 2010.
We set another record for gross margin. Second quarter 2011 gross margin was 51.8%. The second quarter gross margin was an 80 basis point improvement from the 51% we reported last quarter and ahead of our guidance of 51%.