Micrel, Inc. (MCRL) Tops Q1 EPS by 5c

Micrel, Inc. (NASDAQ: MCRL) reported Q1 EPS of $0.08, $0.05 better than the analyst estimate of $0.03. Revenue for the quarter came in at $58 million versus the consensus estimate of $58.5 million.

Micrel, Inc. sees Q2 2015 EPS of $0.06-$0.09, versus the consensus of $0.06. They expect quarter two revenue will be in the range of up 1% to up 5% from the first quarter of 2015.

Commenting on the first quarter 2015 results, Micrel's President and CEO Ray Zinn said, "I am quite pleased with our overall performance in the first quarter which included strong earnings, reduced operating expenses and solid bookings. At the top line, first quarter revenues of $58.0 million increased slightly compared to the prior quarter and were driven by the strength in sales of Micrel's Industrial and Automotive end markets, partially offset by lower demand for our Enterprise/Cloud Infrastructure products. At the bottom line, non-GAAP earnings of $0.08 per diluted share resulted from initiatives implemented in the second-half of last year to streamline our operations and improve our cost structure. These initiatives resulted in a sharp reduction in total operating expenses during the first quarter and helped expand operating margins to 6.9% -- a three percentage point improvement over the prior quarter."

For earnings history and earnings-related data on Micrel, Inc. (MCRL) click here.

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