Why Volterra Semiconductor Shares Plunged
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What: Shares of Volterra Semiconductor plunged today by as much as 11% after the company reported earnings.
So what: Sales in the fourth quarter added up to $40.3 million, resulting in net income of $4.6 million, or $0.18 per share. On a non-GAAP basis, net income came out to $7.1 million, or $0.28 per share. Both sales and adjusted earnings topped consensus estimates.
Now what: Full-year sales totaled $168 million and adjusted earnings per share were $1.24. CEO Jeff Staszak said 2012 was the company's 12th consecutive year of revenue growth and ninth consecutive profitable year. The company also acquired Element Energy, a small start-up that specializes in battery technology, for an unspecified amount. Investors are possibly skeptical about the acquisition.
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The article Why Volterra Semiconductor Shares Plunged originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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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