Integrated Device Technology Earnings: Here’s Why Investors Don’t Like These Results

Integrated Device Technology, Inc. (NASDAQ:IDTI) delivered a profit 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. Shares are down 1.88%.

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Integrated Device Technology, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 80% to $0.01 in the quarter versus EPS of $0.05 in the year-earlier quarter.

Revenue: Decreased 8.92% to $108.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Integrated Device Technology, Inc. reported adjusted EPS income of $0.01 per share. By that measure, the company missed the mean analyst estimate of $0.01. It beat the average revenue estimate of $107.25 million.

Quoting Management: “We delivered Q4 results that were in line with our prior projections,” said Dr. Ted Tewksbury, president and CEO of IDT. “Revenue from new products was up 6 percent sequentially which was offset by weakness in our core and base businesses. Despite the sequential decline in total revenue, gross margins were slightly higher on better product mix, we were able to maintain non-GAAP profitability as expected, and we generated positive cash flow from operations during the quarter.”

Key Stats (on next page)…

Revenue decreased 5.78% from $115.15 million in the previous quarter. EPS decreased 75% from $0.04 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.07 to a profit $0.05. For the current year, the average estimate has moved down from a profit of $0.25 to a profit of $0.22 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]