Exar Corp. (EXAR) Misses Q1 EPS by 1c

Exar Corp. (NYSE: EXAR) reported Q1 EPS of $0.10, $0.01 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $40.4 million versus the consensus estimate of $41.8 million.

Louis DiNardo, Exar's President and CEO, commented, "Clearly the semiconductor industry was impacted in the June quarter by a weakening demand environment and resulting inventory correction, however we were able to meet our expectations for the quarter." Mr. DiNardo continued, "While the near-term will likely be impacted by global uncertainties, we are confident in what we have achieved with new product development and innovative mixed signal solutions. This is evident as the new design wins for our advanced products are strong."

For earnings history and earnings-related data on Exar Corp. (EXAR) click here.

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