Exar Corp. (EXAR) Reports In-Line Q2 EPS

Exar Corp. (NYSE: EXAR) reported Q2 EPS of $0.06, in-line with the analyst estimate of $0.06. Revenue for the quarter came in at $37.2 million versus the consensus estimate of $37.39 million.

Exar Corp. sees FY2015 EPS of $0.06-$0.08, versus the consensus of $0.07.

Exar Corp. sees FY2015 EPS of $0.30-$0.34, versus the consensus of $0.31.

Richard Leza, Exar's chairman and interim president and CEO, commented, "As expected, while the September quarter was challenging with weakness persisting in China, we delivered solid non-GAAP results within our revenue and EPS expectation ranges. Non-GAAP gross margin was adversely affected by softness within our Industrial customers; however, we were able to implement cost controls to ensure we delivered improved profitability from a year ago." Mr. Leza continued, "We are engaged in multiple initiatives to restore focus, revenue growth and higher levels of profitability to Exar. This includes implementing a strategy built on Exar's core strengths, a restructuring of our sales and marketing efforts, and continuing to implement steps to target a reduction in our cost of goods."

For earnings history and earnings-related data on Exar Corp. (EXAR) click here.

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