Integrated Silicon Solution Earnings: Here’s Why the Stock is Rising Now
Integrated Silicon Solution Inc. (NASDAQ:ISSI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 7.1%.
Integrated Silicon Solution Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.21 in the quarter as EPS of $0.21 in the year-earlier quarter.
Revenue: Rose 19.96% to $74.99 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Integrated Silicon Solution Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $72.82 million.
Quoting Management: “Second quarter revenue was at the high-end of our guidance primarily due to improvements in the IMM and communications markets,” said Scott Howarth, ISSI’s President and CEO. “During the quarter, we gained traction with large industrial customers, predominately in Europe, where we continue to win new designs. Additionally, our communications revenue improved slightly in the quarter, reflecting improvements in U.S. and China specifically related to LTE basestation implementation. We continued to gain momentum with our RLDRAM® memory products and have also secured large design win opportunities with a major U.S. communications and networking company. Although automotive revenue was flat sequentially, our year-over-year growth in this market demonstrates the ongoing trend toward increased semiconductor content not only in high-end cars, but also lower cost vehicles. Based on our increasing design activity and share gains, we expect this market will remain a strong growth driver for our business.”
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