Ikanos Communications Announces Results for First Quarter 2015
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Needham & Company Remains Bullish on Ikanos Communications (IKAN) While Lowering Price Target
May 5, 2015 7:44 AM EDTNeedham & Company maintained a Buy rating on Ikanos Communications (NASDAQ: IKAN) and lowers price target to $5 (from $6.50) after 1Q15 results came in slightly below expectations. IKAN reported revenue of $10.2M which was within the guided range of $10-12M but below the estimate of $11m. But with two new gateway design wins announced, Needham expects... More
Ikanos Communications (IKAN) Posts Wider-than-Expected Q1 Loss, Outlook
May 4, 2015 4:15 PM EDTIkanos Communications (NASDAQ: IKAN) reported Q1 EPS of ($0.77), $0.27 worse than the analyst estimate of ($0.50). Revenue for the quarter came in at $10.2 million versus the consensus estimate of $11 million.
Ikanos Communications sees Q2 2015 EPS of ($0.56)-($0.70), versus the consensus of ($0.40). Ikanos Communications sees Q2 2015 revenue of $10-12 million, versus the consensus of $13 million.
"First quarter revenue was $10.2 million, with a GAAP gross profit of 49%, which due to a favorable product mix exceeded our gross-profit guidance," said Dennis Bencala, CFO of Ikanos. "During the first quarter, we worked to manage our business and cash... More
