(RTTNews) - Analog and mixed signal IC maker Supertex Inc. (SUPX: News ), Tuesday reported a decline in profit for the second quarter, despite a 17% increase in revenue. Looking ahead, the company raised its revenue guidance for the third quarter.

Supertex reported a second quarter net income of $1.08 million, or $0.08 per share from $4.54 million or $0.35 per share in the prior-year quarter.

The Sunnyvale, California based company's second quarter non-GAAP earnings,excluding pre-tax employee stock-based compensation, declined to $1.89 million or $0.15 per share from $5.2 million or $0.40 per share in the year-ago period.

Pre-tax employee stock-based compensation for the quarter increased to $835,000 from $676,000 in the same quarter last year.

On an average, 6 analysts polled by Thomson Reuters expected the company to report a profit of $0.10 per share for the quarter. Analysts' estimates typically exclude one-time items.
Total net sales for the second quarter decreased 32% to $15.87 million from $23.45 million in the same quarter last year. Analysts estimated revenue of $14.82 million for the quarter.

Income from operations for the quarter decreased to $0.64 million from $5.58 million in the same quarter last year.

For the six-month period, the company reported a net income of $1.98 million or $0.15 per share, compared to $8.98 million or $0.70 per share last year. Non-GAAP net income was $3.59 million or $0.28 per share, a decline from $10.28 million or $0.80 per share in the prior-year.

Total revenue for six-months decreased to $29.43 million from $46,20 million in the prior-year.

Supertex closed Tuesday's regular trading at $29.02, down $1.00 or 3.33%, on a volume of 0.16 million shares on the Nasdaq.

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by RTT Staff Writer

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