Integrated Device Technology (IDTI) Tops Q4 EPS by 1c

Integrated Device Technology (NASDAQ: IDTI) reported Q4 EPS of $0.14, $0.01 better than the analyst estimate of $0.13. Revenue for the quarter came in at $118.6 million versus the consensus estimate of $117.07 million.

“We concluded fiscal year 2014 on a high note with strong Q4 revenue, non-GAAP operating margin and earnings per share,” said Greg Waters, president and chief executive officer. “The strength in revenues for the fourth fiscal quarter was primarily driven by sales in our Communications end market as the build-out of global 4G/LTE infrastructure accelerated. Non-GAAP gross margin was slightly impacted by inventory reserves associated with our previous fab closure transition and product mix. However, with our continued focus on expense control, we exceeded our guidance for non-GAAP operating margins and non-GAAP EPS, delivering 19.5% and $0.14 per fully diluted share, respectively.”

“We have successfully transformed IDT into a company that generates earnings power as our revenue continues to grow, all supported by a very strong balance sheet. We are investing in high-growth markets and believe we can grow market share in all of our target market segments through the course of this fiscal year,” concluded Mr. Waters.

For earnings history and earnings-related data on Integrated Device Technology (IDTI) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'
• Deere (DE) PT Lowered to $570 at JPMorgan Ahead of Earnings