Integrated Silicon Solution Inc. (NASDAQ:ISSI) 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. Shares are down 4.34%.
Integrated Silicon Solution Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.55% to $0.23 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 20.1% to $77.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Integrated Silicon Solution Inc. reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.22. It missed the average revenue estimate of $78.54 million.
Quoting Management: “Third quarter revenue reflected sequential growth in sales into the IMM, communications and consumer markets, including sales of our flash and analog products,” said Scott Howarth, ISSI’s President and CEO. “The sequential increases in IMM and communications sales were even more noteworthy considering the 13% and 5% sequential growth, respectively, we achieved in the March quarter despite the continued economic weakness in Europe. We believe our expanded product portfolio is driving market share gains and increasing ISSI’s role as a strategic source of long-term supply for customers.”
Key Stats (on next page)…