InvenSense (INVN) Misses Q2 EPS by 11c

InvenSense (NYSE: INVN) reported Q2 EPS of $0.05, $0.11 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $90.2 million versus the consensus estimate of $90.48 million.

Management Qualitative Comments

“This is an exciting time for our company,” said Behrooz Abdi, president and CEO. “Q2 was a record revenue quarter, with the North America region leading our growth. During the quarter, we successfully ramped several key design wins, leveraging our strategic inventory of second-generation 6-axis products in order to meet demand for both our second and third generation devices. With strong market share gain in mobile, our team has executed on the first step in our growth strategy, while our investment in content increase has delivered a full portfolio of differentiated products that we believe will provide meaningful growth opportunity for years to come. As we move beyond the second quarter’s inventory adjustment, we believe that our solid business model will allow us to drive improved earnings leverage and shareholder return in the coming quarters.”

For earnings history and earnings-related data on InvenSense (INVN) click here.

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