Pericom Semiconductor Corp (PSEM) Tops Q4 EPS by 1c

Pericom Semiconductor Corp (NASDAQ: PSEM) reported Q4 EPS of $0.18, $0.01 better than the analyst estimate of $0.17. Revenue for the quarter came in at $30.6 million versus the consensus estimate of $32.03 million.

"Continued execution on our strategic initiatives throughout the year resulted in fiscal 2015 non-GAAP gross margin improving 500 basis points, non-GAAP operating margin improving 650 basis points and non-GAAP net income increasing 100 percent over the prior year," said Alex Hui, President and CEO of Pericom. "Also during the year, we continued the strategic reshaping of our revenue and gross margin profile by growing our integrated circuit revenue by approximately 5% and selectively reducing our frequency control revenue by approximately 6%, while also expanding non-GAAP gross margin 200 basis points (IC) and 850 basis points (FCP), respectively. In the fourth quarter, revenue reflected sequential strength in our consumer and embedded end markets, but was more than offset by weakness in networking. However, we were still successful in delivering improved earnings, which highlights our progress as well as the operating leverage in our business model. Looking forward, we expect continued improvement in profitability as we further expand our content in high-growth applications."

For earnings history and earnings-related data on Pericom Semiconductor Corp (PSEM) click here.

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