Fool Checkup: Applied Micro Circuits Earnings
Applied Micro Circuits (NAS: AMCC) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q4), Applied Micro Circuits met expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP loss per share increased.
Gross margins expanded, operating margins dropped, net margins shrank.
Applied Micro Circuits chalked up revenue of $48.8 million. The six analysts polled by S&P Capital IQ looked for revenue of $49.0 million on the same basis. GAAP reported sales were 17% lower than the prior-year quarter's $58.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.10. The five earnings estimates compiled by S&P Capital IQ predicted -$0.11 per share. GAAP EPS were -$1.10 for Q4 versus -$0.06 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 57.0%, 50 basis points better than the prior-year quarter. Operating margin was -154.1%, 14,170 basis points worse than the prior-year quarter. Net margin was -138.6%, 13,180 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $50.4 million. On the bottom line, the average EPS estimate is -$0.09.
Next year's average estimate for revenue is $239.6 million. The average EPS estimate is -$0.18.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 122 members out of 146 rating the stock outperform, and 24 members rating it underperform. Among 23 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Applied Micro Circuits a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Applied Micro Circuits is outperform, with an average price target of $9.79.
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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.
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