Integrated Device Technology, Inc. (IDT) Monday said its first-quarter profit from continuing operations plunged to $0.5 million from $12.8 million in the year-ago quarter. On a per-share basis, earnings were breakeven, compared to $0.08 per share last year.
Adjusted earnings were $11.0 million or $0.08 per share, compared to $23.8 million or $0.16 per share last year.
On average, seven analysts polled by Thomson Reuters expected the company to earn $0.06 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $130.2 million, down from $149.3 million last year. Analysts expected revenues of $128.80 million.
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by RTT Staff Writer
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