Inphi: 2Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Inphi Corp. (IPHI) on Tuesday reported a loss of $28.5 million in its second quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 65 cents. Earnings, adjusted for one-time gains and costs, were 15 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The chip designer posted revenue of $69.8 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $69.3 million.
For the current quarter ending in October, Inphi expects its per-share earnings to range from 28 cents to 30 cents.
The company said it expects revenue in the range of $75.5 million to $79.5 million for the fiscal third quarter.
Inphi shares have decreased 6.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.23, a decline of 13 percent in the last 12 months.