Intersil Corporation (NASDAQ:ISIL) 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.
Intersil Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.06 in the quarter versus EPS of $-0.03 in the year-earlier quarter.
Revenue: Decreased 15.58% to $131.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Intersil Corporation reported adjusted EPS income of $0.06 per share. By that measure, the company beat the mean analyst estimate of $-0.07. It missed the average revenue estimate of $134.62 million.
Quoting Management: “In February, Intersil initiated a restructuring plan to more closely align its cost structure to current sales levels. With me joining in March, we will now focus our attention on achieving strategic alignment, as we reposition our investments in areas where we can compete more effectively and profitably,” said Necip Sayiner, President and CEO.
Key Stats (on next page)…
Revenue decreased 4.18% from $137.45 million in the previous quarter. EPS increased to $0.06 in the quarter versus EPS of $-0.15 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0 to a profit $0.02. For the current year, the average estimate has moved down from a profit of $0.07 to a profit of $0.06 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)