SAN JOSE, Calif. (AP) _ Integrated Device Technology Inc. (IDTI) on Monday reported fiscal first-quarter earnings of $30.7 million.
On a per-share basis, the San Jose, California-based company said it had profit of 23 cents. Earnings, adjusted for one-time gains and costs, came to 44 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The chipmaker posted revenue of $228.5 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $226.6 million.
Integrated Device Tech shares have risen 12 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.29, a climb of 28 percent in the last 12 months.