Thursday, Microsemi, Corp. (MSCC) reported a decline in first-quarter profit from the year ago on 13% lower net sales of analog and mixed-signal integrated circuits and semiconductors.
The semiconductor maker's first-quarter profit declined to $7.96 million or $0.10 per share from $13.20 million or $0.16 per share in the year-ago period. Microsemi's non-GAAP net income declined to $21.1 million from $28.7 million. Earnings per share fell to $0.26 from $0.35 in the prior-year period. On average, 11 analysts polled by Thomson Reuters expected EPS of $0.26 for the quarter.
GAAP results in the first quarter of 2010 included $3.7 million for transitional idle capacity and $1.1 million in restructuring, exceptional legal matters and other special charges. Also included in the first quarter were non-cash charges of $6.7 million related to stock based compensation and $3.9 million in amortization of acquisition-related intangibles.
Microsemi net sales fell 13.6% to $112.8 million from $130.6 million in the year-ago period; comparable to analyst revenue expectations of $112.42 million in the first-quarter.
Though cost of sales reduced to $60.56 million from $70.16 million, the decline in net sales brought down the gross margin to $52.26 million from $60.43 million in the year-earlier quarter.
The company's total operating expenses reduced to $41.79 million from $46.52 million due to lower selling, general and administrative or S,G&A costs and lower restructuring charges. S,G&A costs declined to $25.81 million from $30.60 million and restructuring charges fell to $0.29 million from $1.90 million in the year-ago period. This was partially offset by higher R&D costs of $11.80 million, compared to $10.76 million last year and higher amortization of intangible assets of $3.88 million from $3.24 million in the year-ago period. Looking ahead, Microsemi expects second-quarter EPS in the range of $0.26 to $0.27. The company also expects second-quarter net sales to sequentially increase between 2% and 4%.
Analysts currently expect the company to post earnings of $0.27 per share, on revenues of $114.8 million a year earlier.
MSCC closed Thursday's regular trading session at $17.18, up $0.05 or 0.29%, on a volume of 1.50 million shares on the Nasdaq. In after-market trading MSCC shares fell $0.48 or 2.79% to $16.70.
For comments and feedback contact: editorial@rttnews.com
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.