Impinj (PI) Tops Q3 EPS by 4c
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Impinj (NASDAQ: PI) reported Q3 EPS of $0.10, $0.04 better than the analyst estimate of $0.06. Revenue for the quarter came in at $31 million versus the consensus estimate of $28.39 million.
Impinj sees Q4 2016 EPS of $0.04-$0.11, versus the consensus of $0.06. Impinj sees Q4 2016 revenue of $31.5-33 million, versus the consensus of $29.42 million.
“We delivered a strong third quarter, exceeding our revenue and earnings guidance. Revenue in the quarter grew 50% year-over-year to reach a record $31.0 million, driven primarily by accelerating demand for our endpoint ICs, followed by growing demand for our connectivity products. We view endpoint IC volumes as an indicator of market adoption and are excited by the broad-based demand we saw this quarter,” said Chris Diorio, Impinj co-founder and CEO. “We will continue investing in this massive market opportunity to enhance our leading market position and foster adoption of our platform.”
For earnings history and earnings-related data on Impinj (PI) click here.
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