The 10-second takeaway
For the quarter ended Sep. 30 (Q3), PLX Technology whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share expanded.
Gross margins grew, operating margins increased, net margins dropped.
PLX Technology tallied revenue of $26.9 million. The three analysts polled by S&P Capital IQ predicted revenue of $30.1 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $31.1 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 $0.01. The two earnings estimates compiled by S&P Capital IQ predicted $0.04 per share. GAAP EPS were -$0.14 for Q3 against -$0.09 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 59.8%, 340 basis points better than the prior-year quarter. Operating margin was 1.9%, 1,290 basis points better than the prior-year quarter. Net margin was -23.5%, 990 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $25.5 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $103.9 million. The average EPS estimate is -$0.15.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 39 members out of 54 rating the stock outperform, and 15 members rating it underperform. Among 16 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 11 give PLX Technology a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PLX Technology is hold, with an average price target of $6.66.
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