Atmel Earnings: Here’s Why the Stock is Down Now
Atmel Corporation (NASDAQ:ATML) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.13%.
Atmel Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25% to $0.06 in the quarter versus EPS of $0.08 in the year-earlier quarter.
Revenue: Decreased 5.54% to $347.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Atmel Corporation reported adjusted EPS income of $0.06 per share. By that measure, the company met the mean analyst estimate of $0.06. It missed the average revenue estimate of $349.05 million.
Quoting Management: “Our core microcontroller business generated strong growth in the second quarter and we further improved our competitive position with the launch of our new low-power ARM Cortex-M0+ product family. Additionally, our XSense™ product has achieved production qualification in our Colorado facility and we are now positioned to ramp volume production for this revolutionary new technology,” said Steve Laub, Atmel’s President and Chief Executive Officer. “We are pleased with the progress we made on improving our gross margin and remain focused on achieving our long-term operating model goals.”
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