GSI Technology (GSIT) Misses Q4 EPS by 10c

GSI Technology (NASDAQ: GSIT) reported Q4 EPS of ($0.12), $0.10 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $13.1 million versus the consensus estimate of $13.3 million.

GSI Technology sees Q2 2015 revenue of $13-14 million, versus the consensus of $14 million.

Lee-Lean Shu, Chairman and Chief Executive Officer, noted "Our net revenues for the fourth quarter were within the range of the guidance that we had provided earlier in the quarter, and -- as in the prior quarter -- our gross margin came in well above our guidance and well above our operating model at 49.6%, fueled by a very favorable mix of higher margin products. However, as in prior quarters, we continued to see slowness in the telecommunications and networking markets and continued weak sales in Asia. Also, we again incurred substantial litigation-related expenses during the quarter, as our pending patent infringement litigation and antitrust lawsuit against Cypress continued and discovery ramped up in an unrelated case in which we are the plaintiff. That said, looking forward to fiscal 2016, we expect to maintain our leadership position in the high speed SRAM segment, and we look forward to expanding into the low-latency DRAM space as shipments of our initial LLDRAMs increase during the year."

For earnings history and earnings-related data on GSI Technology (GSIT) click here.

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