PLX Technology Earnings: Here’s Why the Stock is Down Now
PLX Technology Inc. (NASDAQ:PLXT) 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 down 1.35%.
PLX Technology Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.09 in the quarter versus EPS of $-0.12 in the year-earlier quarter.
Revenue: Rose 3.07% to $26.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: PLX Technology Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.06. It beat the average revenue estimate of $26.01 million.
Quoting Management: “Our successful return to profitability is centered on a company-wide commitment to controlling costs and focusing entirely on our leadership in innovative PCI Express products,” said David Raun, PLX president and CEO. “Our record PCI Express sales, lower expenses and higher margins produced one of the most profitable quarters in years.”
Key Stats (on next page)…