Supertex Earnings: Here’s Why Shares are Up Now
Supertex Inc. (NASDAQ:SUPX) 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 0.63%.
Supertex Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 500% to $0.3 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Rose 0.87% to $16.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Supertex Inc. reported adjusted EPS income of $0.3 per share. By that measure, the company beat the mean analyst estimate of $0.1. It beat the average revenue estimate of $15.9 million.
Quoting Management: “We’re very pleased with customer acceptance of our new products and improvement in our operating performance,” stated Dr. Henry C. Pao, President and CEO. “Sales of our new analog switches have ramped up quickly, and we have gained many design wins with our new higher density analog switches for medical ultrasound systems. Our printer head driver sales for a new series of printers for printing on ceramics and textiles, as well as for printing in 3D, grew 80% sequentially after doubling in the previous quarter. We also started shipping in volume a custom product for a consumer application, which is included in our industrial/other market. There are further growth opportunities for our recently-launched products for medical ultrasound, printer, LED lighting and industrial/other products, which span nearly all of our target markets. In large part due to our increased sales, we continue to improve our gross margin and generate positive cash flow from operating activities.”
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