Applied Micro Circuits
The 10-second takeaway
For the quarter ended March 31 (Q4), Applied Micro Circuits met expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP loss per share increased.
Gross margins expanded, operating margins dropped, net margins shrank.
Applied Micro Circuits chalked up revenue of $48.8 million. The six analysts polled by S&P Capital IQ looked for revenue of $49.0 million on the same basis. GAAP reported sales were 17% lower than the prior-year quarter's $58.6 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 -$0.10. The five earnings estimates compiled by S&P Capital IQ predicted -$0.11 per share. GAAP EPS were -$1.10 for Q4 versus -$0.06 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 57.0%, 50 basis points better than the prior-year quarter. Operating margin was -154.1%, 14,170 basis points worse than the prior-year quarter. Net margin was -138.6%, 13,180 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $50.4 million. On the bottom line, the average EPS estimate is -$0.09.
Next year's average estimate for revenue is $239.6 million. The average EPS estimate is -$0.18.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 122 members out of 146 rating the stock outperform, and 24 members rating it underperform. Among 23 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Applied Micro Circuits a green thumbs-up, and one 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 $9.79.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.