Microsemi Corp. (NASDAQ:MSCC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Microsemi Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 6.52% to $0.43 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Decreased 5.62% to $235.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Microsemi Corp. reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.4. It beat the average revenue estimate of $232.96 million.
Quoting Management: “We exit the March quarter with increasing confidence as our visibility has improved,” said James J. Peterson, president and CEO of Microsemi. “Our book-to-bill ratio moved back above 1:1, profitability benefited from the cost control measures we initiated and we saw a number of significant design win successes for Microsemi’s total solution market approach. As we look to the second half of 2013 and beyond, we remain confident in our unique opportunity to grow revenues and profitability to the benefit of our shareholders.”
Key Stats (on next page)…