M/A-Com: Fiscal 3Q Earnings Snapshot
LOWELL, Mass. (AP) _ M/A-Com Technology Solutions Holdings Inc. (MTSI) on Tuesday reported a loss of $85.4 million in its fiscal third quarter.
The Lowell, Massachusetts-based company said it had a loss of $1.32 per share. Earnings, adjusted for one-time gains and costs, were 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The chipmaker posted revenue of $137.9 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $146.3 million.
For the current quarter ending in September, M/A-Com expects its per-share earnings to range from 15 cents to 17 cents.
M/A-Com shares have declined 36 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.83, a drop of 66 percent in the last 12 months.