Ikanos Communications, Inc. (IKAN) Misses Q1 EPS by 1c, Offers Guidance

Ikanos Communications, Inc. (NASDAQ: IKAN) reported Q1 EPS of ($0.10), $0.01 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $14.5 million versus the consensus estimate of $15 million.

Ikanos sees Q214 EPS of ($0.11)-($0.13), versus the consensus of ($0.08). Ikanos also sees Q2 2014 revenue of $11.6 - $13.7 million, versus the consensus of $16.75 million.

"The key factor contributing to the short-term decline in overall revenue was the lower demand in certain maturing markets, namely Japan and Korea, which have had a significant impact on our legacy product revenue," said Tahernia. "Revenue in Korea in particular dropped to historic lows. This is a trend we expect to continue to see in those regions. However, we anticipate great demand for G.fast in both regions, which should present the next cycle of growth for Ikanos."

GAAP gross profit for the second quarter of 2014 is expected to be between 46% and 48%. Non-GAAP gross profit is expected to be between 47% and 49% for second quarter of 2014. GAAP operating expenses for second quarter of 2014 are expected to be in the range of $17.5 million to $18.5 million. Non-GAAP operating expenses are expected to be in the range of $16.5 million to $17.5 million for second quarter of 2014. GAAP net loss for second quarter of 2014 is expected to be in the range of approximately $(11.6) million to $(13.7) million, or a GAAP loss per share of $(0.12) to $(0.14). Non-GAAP net loss is expected to be in the range of approximately $(10.4) million to $(12.6) million, or a non-GAAP loss per share of $(0.11) to $(0.13).

For earnings history and earnings-related data on Ikanos Communications, Inc. (IKAN) click here.

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