Applied Micro Circuits (AMCC) Misses Q1 EPS by 1c

Applied Micro Circuits (NASDAQ: AMCC) reported Q1 EPS of ($0.03), $0.01 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $41.5 million versus the consensus estimate of $41.51 million.

Commenting on Applied Micro’s fiscal 2017 first quarter results, Dr. Paramesh Gopi, President and Chief Executive Officer, said, “We are beginning fiscal 2017 with our sixth consecutive quarter of revenue growth. Our Connectivity business drove the improvement in top line results and our on-going cost reduction efforts resulted in improved gross margins.”

"We are pleased with the progress we've made in both our base Connectivity business as well as our Computing business. Our PAM4 single lambda 100/400G FinFET technology continues to lead the market, while our X-Gene® product line gained meaningful traction and was deployed at top hyperscale data center customers.” concluded Dr. Gopi.

For earnings history and earnings-related data on Applied Micro Circuits (AMCC) click here.

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