RF Micro Devices (Nasdaq: RFMD) reported earnings on Oct. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 29 (Q2), RF Micro Devices beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Revenue details
RF Micro Devices logged revenue of $209.7 million. The 19 analysts polled by S&P Capital IQ expected revenue of $197.8 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $243.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.03. The 18 earnings estimates compiled by S&P Capital IQ forecast $0.01 per share. GAAP EPS were -$0.06 for Q2 versus $0.05 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 31.7%, 540 basis points worse than the prior-year quarter. Operating margin was -4.8%, 1,420 basis points worse than the prior-year quarter. Net margin was -7.8%, 1,370 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $218.2 million. On the bottom line, the average EPS estimate is $0.03.
Next year's average estimate for revenue is $830.4 million. The average EPS estimate is $0.06.
Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 691 members out of 735 rating the stock outperform, and 44 members rating it underperform. Among 95 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 give RF Micro Devices a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RF Micro Devices is outperform, with an average price target of $5.40.
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