5th November 2006

Hittite Microwave in Buoyant Mood

Hittite Microwave reported revenue for the third quarter ended September 30, 2006 of $34.6 m, representing an increase of 63.5% compared with $21.2 m for the third quarter of 2005 and an increase of 7.0% compared with $32.4 m for the second quarter of 2006. Net income for the quarter was $11.6 m an increase of 132.2% compared with $5.0 m for the third quarter of 2005, and an increase of 13.6% compared with $10.2 m for the second quarter of 2006.

"We are pleased with our third quarter results," said Stephen Daly, Chairman and CEO. "Favourable market conditions and product mix allowed us to deliver strong results. Our engineering team remains focused on developing innovative new products for our diverse customer base. During the quarter we launched 20 new products, including a novel family of integrated receiver ICs which operate between 7 and 16 GHz. These products will support a wide range of applications, including the large back haul radio link market."

The company currently expects revenue for the fourth quarter ending December 31, 2006 to be in the range of $34.0-35.0 m and net income to be in the range of $10.4 m to $10.8 m, including equity-based compensation expense.

Web: http://www.hittite.com