PLX Technology Earnings: Everything You Must Know Now
PLX Technology Inc. (NASDAQ:PLXT) 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.
PLX Technology Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.07 in the quarter versus EPS of $-0.07 in the year-earlier quarter.
Revenue: Rose 3.22% to $26.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: PLX Technology Inc. reported adjusted EPS income of $0.07 per share. By that measure, the company beat the mean analyst estimate of $0.06. It beat the average revenue estimate of $26.63 million.
Quoting Management: “Our ongoing commitment to controlling costs and focusing on our growing leadership in PCI Express has resulted in consecutive profitable quarters,” said David Raun, PLX president and CEO. “Although we still have much to do, these two quarters combined produced the most profitable first six months of any year in the company’s history. PCI Express grew eight percent, led by Gen3 growth setting a new record and producing our first $20 million PCI Express quarter. PCI Express is now 75 percent of our sales, up from 67 percent one year ag
Key Stats (on next page)…
Revenue increased 2.59% from $26.22 million in the previous quarter. EPS decreased 22.22% from $0.09 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 $0.08 to a profit $0.06. For the current year, the average estimate has moved down from a profit of $0.29 to a profit of $0.28 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)