Microsemi Corp. (MSCC) reported that its first-quarter GAAP net income was $8.0 million compared to net income of $13.2 million in the first quarter of 2009. GAAP earnings per share in the first quarter of 2010 was $0.10, compared to GAAP earnings per share of $0.16 in the first quarter of 2009.
For the first quarter of 2010, non-GAAP net income was $21.1 million, compared to $28.7 million in the first quarter of 2009. Non-GAAP earnings per share in the first quarter of 2010 were $0.26 compared to $0.35 in the first quarter of 2009.
Net sales were $112.8 million, down 13.6% from net sales of $130.6 million in the first quarter of 2009.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share on revenues of $112.42 million for the quarter. Analysts' estimates typically exclude special items.
Microsemi expects that for the second quarter of fiscal year 2010, net sales will increase between a range of 2 percent and 4 percent, sequentially. On a non-GAAP basis, the company expect earnings for the second quarter of fiscal year 2010 to be $0.26 to $0.27 per share. Analysts expects the company to report earnings of $0.27 per share on revenues of $114.82 million for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.