Peregrine Semiconductor Earnings: Here’s Why the Stock is Up Now

Peregrine Semiconductor Corp (NASDAQ:PSMI) 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. Shares are up 1.88%.
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Peregrine Semiconductor Corp Earnings Cheat Sheet

Results:

Revenue: Decreased 0% to $46.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.01 per share. By that measure, the company beat the mean analyst estimate of $-0.02. It beat the average revenue estimate of $45.81 million.

Quoting Management: “During the first quarter of 2013 we made solid progress as we continued to expand our position as a leader in the RF front-end. In particular, we improved our end customer diversification with share gains at a number of important accounts during the first quarter. In addition, we introduced key new technologies and partnerships including STeP8, an important advancement to our UltraCMOS process technology, and our collaboration with Intel on tuning solutions for LTE. We also announced our intent to license IP to Murata, the market leader in RF modules, to solidify our long-term partnership and further establish value in our patent portfolio,” commented Jim Cable, Chief Executive Officer. “We have positioned ourselves well for future growth as certain high-profile smartphones begin to ramp and we continue to diversify the product offerings in our non-handset business.”

Key Stats (on next page)…

Revenue decreased 0% from $0 in the previous quarter. EPS decreased 94.74% from $0.19 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 $0.15 to a profit $0.02. For the current year, the average estimate has moved down from a profit of $1.02 to a profit 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)

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