Micrel
The 10-second takeaway
For the quarter ended June 30 (Q2), Micrel missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. GAAP earnings per share dropped.
Margins dropped across the board.
Revenue details
Micrel tallied revenue of $59.2 million. The three analysts polled by S&P Capital IQ foresaw revenue of $62.1 million on the same basis. GAAP reported sales were 7.1% lower than the prior-year quarter's $63.7 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 $0.09. The three earnings estimates compiled by S&P Capital IQ forecast $0.08 per share. GAAP EPS of $0.09 for Q2 were 10% lower than the prior-year quarter's $0.10 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 52.5%, 270 basis points worse than the prior-year quarter. Operating margin was 10.4%, 410 basis points worse than the prior-year quarter. Net margin was 8.5%, 100 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Looking ahead
Next quarter's average estimate for revenue is $63.4 million. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $247.6 million. The average EPS estimate is $0.34.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 111 members out of 118 rating the stock outperform, and seven members rating it underperform. Among 37 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 34 give Micrel a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Micrel is buy, with an average price target of $15.50.
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