International Rectifier Goes Negative
International Rectifier (NYS: IRF) reported earnings on Feb. 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 25 (Q2), International Rectifier met expectations on revenue and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share contracted to a loss.
Margins contracted across the board.
International Rectifier logged revenue of $230.1 million. The seven analysts polled by S&P Capital IQ expected to see sales of $229.5 million. Sales were 18% lower than the prior-year quarter's $281.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at -$0.09. The 10 earnings estimates compiled by S&P Capital IQ forecast -$0.04 per share. GAAP EPS were -$0.09 for Q2 versus $0.62 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 35.4%, 760 basis points worse than the prior-year quarter. Operating margin was -1.4%, 1,730 basis points worse than the prior-year quarter. Net margin was -2.8%, 1,840 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $237.0 million. On the bottom line, the average EPS estimate is -$0.13.
Next year's average estimate for revenue is $1.03 billion. The average EPS estimate is $0.23.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 153 members out of 169 rating the stock outperform, and 16 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 55 give International Rectifier a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on International Rectifier is outperform, with an average price target of $25.14.
New mobile devices are changing the game -- and potential profitability -- at many semiconductor companies. Some will fail, some will tread water, and those in the right devices will shine. Where does International Rectifier fit in? Who will lead going forward? Check out our free report: "3 Hidden Winners of the iPhone, iPad, and Android Revolution." Click here for instant access to this free report.
- Add International Rectifier to My Watchlist.
At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.