Integrated Device Technology First Quarter Earnings Sneak Peek

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Integrated Device Technology, Inc. (NASDAQ:IDTI) will unveil its latest earnings on Monday, July 30, 2012. Integrated Device Technology designs, develops, manufactures and markets a broad range of low-power, high-performance mixed signal semiconductor solutions for the advanced communications, computing and consumer industries.

Integrated Device Technology, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 3 cents per share, a decline of 66.7% from the company’s actual earnings in the year-ago quarter. During the past three months, the average estimate has moved up from 2 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 3 cents during the last month. Analysts are projecting profit to rise by 21.4% versus last year to 22 cents.

Past Earnings Performance: Last quarter, the company beat estimates by one cent, coming in at net income of 2 cents per share against an estimate of profit of. The company also topped expectations in the third quarter of the last fiscal year.

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A Look Back: In the fourth quarter of the last fiscal year, profit fell 59.4% to $12.8 million (9 cents a share) from $31.4 million (20 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 19.1% to $119.1 million from $147.3 million.

Stock Price Performance: Between April 27, 2012 and July 24, 2012, the stock price fell $1.92 (-28.9%), from $6.67 to $4.75. The stock price saw one of its best stretches over the last year between September 8, 2011 and September 15, 2011, when shares rose for six straight days, increasing 14.2% (+79 cents) over that span. It saw one of its worst periods between May 7, 2012 and May 18, 2012 when shares fell for 10 straight days, dropping 10.7% (-64 cents) over that span.

Wall St. Revenue Expectations: Analysts predict a decline of 15% in revenue from the year-earlier quarter to $128.8 million.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 4.3% in the first quarter of the last fiscal year, 17.1% in second quarter of the last fiscal year and 21.7% in the third quarter of the last fiscal year and then fell again in the fourth quarter of the last fiscal year of the last fiscal year.

Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 6.06 last quarter. Having a ratio above 2:1 is usually considered a good indicator of a company’s liquidity and ability to meet creditor demands.

Analyst Ratings: There are mostly holds on the stock with four of six analysts surveyed giving that rating.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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