International Rectifier Earnings: Challenging Quarter
International Rectifier Corporation (NYSE:IRF) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The net loss and dip in revenues are causing the stock to dip after-hours. Shares are down 2.19%.
International Rectifier Corporation Earnings Cheat Sheet
Results: Net loss of $30.28 million (loss of 44 cents per diluted share) in the quarter versus a net loss of $6.34 million in the year-earlier quarter.
Revenue: Decreased 2.72% to $223.82 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: International Rectifier Corporation reported adjusted net loss of 44 cents per share. It beat the average revenue estimate of $223.26 million.
Quoting Management: “We expected a challenging December quarter given industry conditions,” stated President and Chief Executive Officer Oleg Khaykin…