Integrated Device Technology Beats on Both Top and Bottom Lines
Integrated Device Technology (NAS: IDTI) reported earnings on April 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended April 1 (Q4), Integrated Device Technology beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Integrated Device Technology logged revenue of $119.1 million. The five analysts polled by S&P Capital IQ anticipated sales of $117.3 million on the same basis. GAAP reported sales were 19% lower than the prior-year quarter's $147.3 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 $0.05. The five earnings estimates compiled by S&P Capital IQ predicted $0.03 per share. GAAP EPS of $0.09 for Q4 were 57% lower than the prior-year quarter's $0.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.4%, 100 basis points worse than the prior-year quarter. Operating margin was -3.5%, 990 basis points worse than the prior-year quarter. Net margin was 10.7%, 1,060 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $123.8 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $532.2 million. The average EPS estimate is $0.33.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 171 members out of 179 rating the stock outperform, and nine members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give Integrated Device Technology a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Integrated Device Technology is outperform, with an average price target of $8.20.
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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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