The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Atmel beat slightly on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Atmel logged revenue of $345.1 million. The 15 analysts polled by S&P Capital IQ looked for revenue of $340.8 million on the same basis. GAAP reported sales were 10% lower than the prior-year quarter's $383.6 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 $0.07. The 14 earnings estimates compiled by S&P Capital IQ averaged $0.07 per share. GAAP EPS were -$0.03 for Q4 compared to $0.07 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 38.1%, 1,000 basis points worse than the prior-year quarter. Operating margin was -0.1%, 1,320 basis points worse than the prior-year quarter. Net margin was -3.6%, 1,220 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $332.1 million. On the bottom line, the average EPS estimate is $0.07.
Next year's average estimate for revenue is $1.45 billion. The average EPS estimate is $0.43.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 379 members out of 415 rating the stock outperform, and 36 members rating it underperform. Among 89 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 84 give Atmel 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 Atmel is outperform, with an average price target of $6.18.
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