Shares of chip maker Integrated Device Technology (IDTI) are down 2 cents at $6.62 after the company reportedfiscal Q3 revenue roughly in line with analysts’ consensus estimate, and beat by 2 cents on the bottom line.
Revenue in the three months ended in December fell 19%, year over year, to $120 million, just below the $120.7 million analysts had been modeling. EPS of 6 cents a share, excluding some costs, was two cents better than expected.
CEO Ted Tewksbury said the company’s control of its operating expenses contributed to better profit than the company had expected. The company saw weaker demand for chips from the communications, consumer electronics, and PC markets during the quarter, but improved bookings for its server-related products.
Added Tewksbury, “While some customer ramps have been delayed by macroeconomic factors, we remain well positioned for multi-year growth driven by the ongoing rollout of cloud computing, 4G wireless infrastructure and mobility platforms.”
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