Applied Micro Circuits
The 10-second takeaway
For the quarter ended Dec. 31 (Q3), Applied Micro Circuits beat slightly on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share grew.
Margins dropped across the board.
Applied Micro Circuits recorded revenue of $51.7 million. The eight analysts polled by S&P Capital IQ looked for revenue of $51.0 million on the same basis. GAAP reported sales were 8.3% lower than the prior-year quarter's $56.3 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 eight earnings estimates compiled by S&P Capital IQ averaged -$0.12 per share. GAAP EPS were -$1.08 for Q3 against -$0.12 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 55.6%, 220 basis points worse than the prior-year quarter. Operating margin was -129.6%, 11,580 basis points worse than the prior-year quarter. Net margin was -138.4%, 12,580 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $55.4 million. On the bottom line, the average EPS estimate is -$0.02.
Next year's average estimate for revenue is $193.8 million. The average EPS estimate is -$0.52.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 122 members out of 159 rating the stock outperform, and 37 members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 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 $8.74.
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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. The Motley Fool has no position in any of the stocks mentioned. 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.