GSI Technology (GSIT) Reports Q3 EPS of $0.01

GSI Technology (NASDAQ: GSIT) reported Q3 EPS of $0.01, versus ($0.03) reported last year. Revenue for the quarter came in at $14.2 million, versus $13.8 million reported last year.

Lee-Lean Shu, Chairman and Chief Executive Officer, noted "Our net revenues came in at the high end of the guidance that we had provided earlier in the third quarter, and our gross margin came in well above our guidance and well above our operating model at 46.7%, fueled by a very favorable mix of higher margin products. However, we continued to see slowness in the telecommunications and networking markets and continued weak sales in Asia, and we again incurred substantial litigation-related expenses during the quarter, as our pending patent infringement litigation and antitrust lawsuit against Cypress continued. We continue to lead the SRAM segment with our innovative products, and we look forward to continued expansion into the low-latency DRAM space. Several key customers are continuing their evaluation of these products, and we expect shipment volumes to increase over the next several quarters as these key customers complete their evaluation and qualification processes."

For earnings history and earnings-related data on GSI Technology (GSIT) click here.

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