Inphi Corp. (IPHI) Tops Q2 EPS by 2c, Revenues Beat; Offers 3Q EPS Outlook

Inphi Corp. (NYSE: IPHI) reported Q2 EPS of $0.15, $0.02 better than the analyst estimate of $0.13. Revenue for the quarter came in at $69.8 million versus the consensus estimate of $69.27 million.

“Our 16% sequential increase in revenue in Q2 demonstrates the recovery of our core long haul and metro business,” said Ford Tamer, President and CEO of Inphi. “In addition, going from a non-GAAP net operating loss in Q1, to over 10% operating profit in Q2 shows our success in managing operating expenses to be in line with revenue growth and the market environment. We remain positive on our business outlook as we continue to introduce new products and grow our “inside data center” revenue as well as re-engaging with ZTE.”

Business OutlookThe following statements are based on the Company’s current expectations for the third quarter of 2018. These statements are forward-looking and actual results may differ materially. A reconciliation between the GAAP and Non-GAAP outlook is included at the end of this press release.

• Revenue in Q3 2018 is expected to be in a range of $75.5 million to $79.5 million. The midpoint being $77.5 million including approximately $0.5M forecasted for ZTE.
• GAAP gross margin is expected to be approximately 60.1% to 61.3%.
• Non-GAAP gross margin is expected to be approximately 70.2% to 71.0%.
• Stock-based compensation expense is expected to be in the range of $17.2 million to $17.4 million.
• GAAP results are expected to be a net loss in a range between a net loss of $19.5 million to $20.3 million, or ($0.44) – ($0.46) per basic share, based on 43.95 million estimated weighted average basic shares outstanding.
• Non-GAAP net income, excluding stock-based compensation expense, amortization of intangibles and inventory step up fair value related to acquisitions and noncash interest on convertible debt, is expected to be in the range of $12.83 million to $13.83 million, or $0.28-$0.30 per diluted share, based on 45.35 million estimated diluted shares outstanding.

GUIDANCE:

Inphi Corp. sees Q3 2018 EPS of $0.28-$0.30, versus the consensus of $0.28.

For earnings history and earnings-related data on Inphi Corp. (IPHI) click here.

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