Applied Micro Circuits Corp. (NASDAQ:AMCC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Applied Micro Circuits Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.02 in the quarter versus EPS of $-0.16 in the year-earlier quarter.
Revenue: Rose 31.02% to $54.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Applied Micro Circuits Corp. reported adjusted EPS income of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.01. It missed the average revenue estimate of $56.22 million.
Quoting Management: “We had an excellent quarter, where we had strength in our base business and also continued to make significant progress towards getting our revolutionary and category defining X-Gene server platforms to market,” said Dr. Paramesh Gopi, President and Chief Executive Officer.
Key Stats (on next page)…