Applied Micro Circuits
The 10-second takeaway
For the quarter ended March 31 (Q4), Applied Micro Circuits met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share increased to zero. GAAP loss per share contracted.
Gross margins grew, operating margins contracted, net margins grew.
Applied Micro Circuits reported revenue of $56.3 million. The seven analysts polled by S&P Capital IQ foresaw revenue of $55.9 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $48.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.00. The six earnings estimates compiled by S&P Capital IQ forecast -$0.01 per share. Non-GAAP EPS dropped to zero from the prior-year quarter's $0.00. GAAP EPS were -$0.45 for Q4 compared to -$1.10 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 62.4%, 540 basis points better than the prior-year quarter. Operating margin was -46.9%, much worse than the prior-year quarter. Net margin was -53.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $56.3 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $241.8 million. The average EPS estimate is $0.06.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 119 members out of 156 rating the stock outperform, and 37 members rating it underperform. Among 31 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 19 give Applied Micro Circuits a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Applied Micro Circuits is outperform, with an average price target of $10.17.
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