Applied Micro Circuits Corp. (NASDAQ:AMCC) had a loss 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. Shares are down 0%.
Applied Micro Circuits Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.00 in the quarter versus EPS of $-0.10 in the year-earlier quarter.
Revenue: Rose 15.5% to $56.33 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Applied Micro Circuits Corp. reported adjusted EPS loss of $0 per share. By that measure, the company beat the mean analyst estimate of $-0.01. It beat the average revenue estimate of $56.06 million.
Quoting Management: Bob Gargus, Chief Financial Officer, commented, “We met our goal of delivering non-GAAP break-even results. Development progress and initial customer reaction are better than expected. This positions us well to take advantage of the growth we anticipate in the future”.
Key Stats (on next page)…
Revenue increased 8.96% from $51.7 million in the previous quarter. EPS increased to $0.00 in the quarter versus EPS of $-0.10 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.01 and has not changed. For the current year, the average estimate has moved up from a loss of $0.48 to a loss of $0.45 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)