Volterra Semiconductor (NASDAQ: VLTR) released its fiscal second-quarter earnings results after the closing bell on Monday.
The company reported both earnings per share and revenue that missed Wall Street consensus estimates. In late trade, the stock was last down 0.49 percent to $16.13.
Management Commentary
“Revenue came in at the low end of guidance as our notebook business declined as expected and we experienced a one quarter inventory correction with a server customer,” said Volterra President and CEO Jeff Staszak. “Q3 orders are stronger at this point than this time last quarter and we are therefore encouraged about our short term outlook and longer term growth opportunities in our server storage, communications and energy businesses.”
Q2 Results
The company reported a 59 percent decrease in adjusted earnings per share to $0.13 compared to $0.32 last year. This missed Wall Street analysts’ consensus EPS estimates of $0.16.
Sales in the quarter were down 21 percent to $34.4 million. This also missed Street consensus revenue estimates of $35.61 million.
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