Intermolecular, Inc. (NASDAQ:IMI) had a loss and met 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.
Intermolecular, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.00 in the quarter versus EPS of $0.01 in the year-earlier quarter.
Revenue: Rose 6.41% to $17.43 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Intermolecular, Inc. reported adjusted EPS of $0 per share. By that measure, the company met the mean analyst estimate of $0. It beat the average revenue estimate of $16.84 million.
Quoting Management: “So far in 2013, we’ve made significant progress expanding and diversifying the business — in April, we announced a milestone, multi-year CDP and IP licensing agreement with Micron, which ensures monetization of our developed technology and IP in DRAM, and expands our licensing opportunity to Micron’s non-volatile memory products,” said David Lazovsky, President and CEO of Intermolecular, Inc. “By signing Epistar, a top five LED device manufacturer, to a CDP and royalty-bearing IP licensing agreement, we continue to execute on our growth and diversification strategy. In addition, in Q2 we expect to re-align our CDP engagement with GLOBALFOUNDRIES to focus on their highest priority projects. While this would be expected to reduce our near-term CDP revenue from GLOBALFOUNDRIES it should facilitate future growth of royalty revenue from them as we will be more focused on their critical path projects.”
Key Stats (on next page)…