Pericom Semiconductor Earnings: Here’s Why Shares are Up Now
Pericom Semiconductor Corp. (NASDAQ:PSEM) 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 4.49%.
Pericom Semiconductor Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 42.86% to $0.04 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Decreased 8.93% to $30.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pericom Semiconductor Corp. reported adjusted EPS income of $0.04 per share. By that measure, the company beat the mean analyst estimate of $0.02. It beat the average revenue estimate of $29.1 million.
Quoting Management: “We are pleased to deliver revenue and gross margin at the high end of our previous guidance. While business from the computing segment remained soft, we were able to offset the decline in computing revenue with increased revenue from embedded market segments and delivered sequentially flat revenue,” said Alex Hui, President and CEO of Pericom. “We will continue to focus on our long-term growth strategy of expanding our customer base in networking, cloud computing and embedded applications with our high performance serial connectivity and timing solutions.”
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