Conexant Systems (CNXT) Sees Follow-Through Momentum Following Strong Results Last Week
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After rallying 22% on Friday, Conexant Systems Inc. (Nasdaq: CNXT) is up another 11% today. Thursday after the close the company reported much better-than-expected results, driving the upside.
In the first quarter, Conexant Systems reported EPS of $0.17, 6 cents better than the analyst estimate of $0.11. Revenue for the quarter was $61.8 million, which compares to the estimate of $60.10 million. In the quarter, Conexant delivered core gross margins of 61 percent and core operating margins of approximately 22 percent, both the highest in company history.
In addition to a strong Q1, Conexant expects revenues for the second quarter of fiscal 2010 to be $60 million to $61 million, which is above the consensus of $54.90 million. The company sees second quarter EPS of $0.13-$0.14, above the consensus of $0.08.
In the first quarter, Conexant Systems reported EPS of $0.17, 6 cents better than the analyst estimate of $0.11. Revenue for the quarter was $61.8 million, which compares to the estimate of $60.10 million. In the quarter, Conexant delivered core gross margins of 61 percent and core operating margins of approximately 22 percent, both the highest in company history.
In addition to a strong Q1, Conexant expects revenues for the second quarter of fiscal 2010 to be $60 million to $61 million, which is above the consensus of $54.90 million. The company sees second quarter EPS of $0.13-$0.14, above the consensus of $0.08.
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