M/A-Com: Fiscal 4Q Earnings Snapshot
LOWELL, Mass. (AP) _ M/A-Com Technology Solutions Holdings Inc. (MTSI) on Tuesday reported fiscal fourth-quarter net income of $8.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Lowell, Massachusetts-based company said it had net income of 12 cents. Earnings, adjusted for one-time gains and costs, were 1 cent per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The chipmaker posted revenue of $112.2 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $110.3 million.
For the year, the company reported that its loss widened to $386.2 million, or $5.88 per share. Revenue was reported as $499.7 million.
For the current quarter ending in January, M/A-Com said it expects revenue in the range of $113 million to $117 million.
M/A-Com shares have climbed 68% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.31, a climb of 63% in the last 12 months.