M/A-Com: Fiscal 4Q Earnings Snapshot
LOWELL, Mass. (AP) _ M/A-Com Technology Solutions Holdings Inc. (MTSI) on Tuesday reported a loss of $16.5 million in its fiscal fourth quarter.
The Lowell, Massachusetts-based company said it had a loss of 29 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 16 cents per share.
The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 16 cents per share.
The chipmaker posted revenue of $151.2 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $152.6 million.
For the year, the company reported that its loss narrowed to $140 million, or $2.57 per share. Revenue was reported as $577.4 million.
For the current quarter ending in January, M/A-Com expects its per-share earnings to range from 18 cents to 22 cents.
The company said it expects revenue in the range of $150 million to $156 million for the fiscal first quarter.
M/A-Com shares have fallen 53 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.14, a decline of 59 percent in the last 12 months.