Hittite Microwave Beats on Both Top and Bottom Lines

Just the facts, Fool.

Seth Jayson
Seth Jayson
Jul 26, 2013 at 12:00AM
Other

Hittite Microwave (Nasdaq: HITT) reported earnings on July 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), Hittite Microwave beat slightly on revenues and beat slightly on earnings per share.

Compared to the prior-year quarter, revenue increased. GAAP earnings per share grew.

Gross margins shrank, operating margins were steady, net margins were steady.

Revenue details
Hittite Microwave reported revenue of $68.6 million. The six analysts polled by S&P Capital IQ hoped for revenue of $67.8 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.58. The four earnings estimates compiled by S&P Capital IQ anticipated $0.57 per share. GAAP EPS of $0.58 for Q2 were 3.6% higher than the prior-year quarter's $0.56 per share.

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 72.4%, 210 basis points worse than the prior-year quarter. Operating margin was 40.1%, much about the same as the prior-year quarter. Net margin was 26.3%, much about the same as the prior-year quarter. (Margins calculated in GAAP terms.)


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Looking ahead
Next quarter's average estimate for revenue is $69.3 million. On the bottom line, the average EPS estimate is $0.59.

Next year's average estimate for revenue is $277.0 million. The average EPS estimate is $2.35.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 237 members out of 250 rating the stock outperform, and 13 members rating it underperform. Among 66 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 61 give Hittite Microwave 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 Hittite Microwave is outperform, with an average price target of $65.25.

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