Inphi Corp. (IPHI) Tops Q2 EPS by 30c, Revenues Beat; Offers 3Q EPS/Revenue Guidance Above Consensus

Inphi Corp. (NYSE: IPHI) reported Q2 EPS of $0.95, $0.30 better than the analyst estimate of $0.65. Revenue for the quarter came in at $175.3 million versus the consensus estimate of $150.47 million.

“In Q2 our product offerings were firing on all cylinders. On a year-over-year basis, our Cloud revenue grew 92% driven by our PAM4 products inside data centers and our COLORZ solution between data centers. Our Telecom revenue grew 119% driven by both our new ASIC and PAM4 for 5G and our coherent solutions for long haul and metro,” said Ford Tamer, President and CEO of Inphi Corporation. “We continue to invest in resources both organically and through strategic acquisitions that can scale Inphi to larger opportunities ahead. Although we are cautious with regard to the macro uncertainties, we believe our continued success and breadth of product cycles will drive sequential growth in the third quarter.”

GUIDANCE:

Inphi Corp. sees Q3 2020 EPS of $0.83-$0.87, versus the consensus of $0.68. Inphi Corp. sees Q3 2020 revenue of $179-182.5 million, versus the consensus of $156.3 million.

The following statements are based on the Company’s current expectations for the third quarter of 2020. 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 2020 is expected to be in the range of $179.0 million to $182.5 million.
• GAAP gross margin is expected to be approximately 55.1% to 56.2%.
• Non-GAAP gross margin is expected to be approximately 63.5% to 64.5%.
• Stock-based compensation expense is expected to be in the range of $29.0 million to $30.0 million.
• GAAP net loss is expected to be in range between $2.7 million to $6.3 million, or ($0.05) to ($0.12) per basic share, based on 52.1 million estimated weighted average basic shares outstanding.
• Non-GAAP net income, excluding stock-based compensation expense, acquisition expenses, amortization of intangibles and inventory fair value step up related to acquisitions and noncash interest on convertible debt, is expected to be in the range of $45.5 million to $47.9 million, or $0.83 to $0.87 per weighted average diluted share, based on 55.0 million estimated non-GAAP weighted average diluted shares outstanding.

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

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