Join        Login             Stock Quote

Standard Microsystems (SMSC) Posts Better-Than-Expected Q4 Earnings

 April 10, 2012 08:05 PM

Standard Microsystems Corp. (NASDAQ:SMSC) reported better-than-expected fourth quarter earnings helped by a double digit growth in sales of consumer electronics and automotive products.

Loss for the fourth quarter were $4.13 million or $0.19 per share, compared to a profit of $1.67 million or $0.07 per share last year. Adjusted earnings were $1.1 million or $0.05 per share, down from last year's $6.0 million or $0.26 per share.

Revenue fell 11% to $89.87 million, which included $7.0 million in sales related to the BridgeCo acquisition. Analysts had expected a loss of $0.17 per share on revenue of $91 million.

[Related -U.S. Futures Fall As Europe Eyed; Hot Stocks: RIMM, SHPGY, WPI, FB, SNDK]

Gross margin increased to $51.6% from 48.1%, while adjusted margin rose to 53.9% from 52.2%.

Looking ahead into the first quarter, the company expects adjusted earnings of $0.29 to $0.38 per share and revenue of $98 million to $102 million, while Street predicts profit of $0.27 per share on revenue of $97.96 million.

The company also anticipates first quarter adjusted gross margin to be about 55% and adjusted operating expenses growth of 3% to 4% sequential. Adjusted effective tax rate is estimated to be about 25% to 30%.

SMSC closed Tuesday's regular session down 0.33% at $24.23. The stock has been trading between $17.98 and $27.83 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

article imageMarket Potentially Facing Near Term Technical Headwinds

After the S&P 500 Index pullback on Thursday and Friday last week, the market's advance on Monday and read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.