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What: Shares of Volterra Semiconductor (NAS: VLTR) plunged today by as much as 16% after the company reported earnings.
So what: Sales in the second quarter came in at $43.6 million, with net income of $6 million, or $0.22 per share. On an adjusted basis, the bottom line was $8.5 million, or $0.32 per share. That didn't quite live up to investor hopes of $0.35 per share in adjusted profit.
Now what: CEO Jeff Staszak acknowledged a "challenging economic environment," but also said the company is gaining market share in new servers and notebooks. Volterra also expanded its previously authorized share repurchase program by an additional $15 million. Analysts are mostly bullish on the company's prospects in Microsoft's Windows 8, which will be launched this fall. They expect Volterra to get some boosts related to the next-generation operating system.
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The article Why Volterra Semiconductor Plunged originally appeared on Fool.com.
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