Monday, Volterra Semiconductor Corp. (VLTR) reported a lower profit for the third-quarter, mainly due to higher operating expenses compared to last year. Revenue also declined from the prior-year period.
The Fremont, California-based company's third-quarter net income decreased to $3.43 million or $0.14 per share from $5.39 million or $0.21 per share a year ago.
On a non-GAAP basis, net income dropped to $4.8 million or $0.19 per share from $6.54 million or $0.25 per share last year. Non-GAAP net income excludes the effect of stock-based compensation expense, net of tax.
On average, 12 analysts polled by Thomson Reuters were expecting earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenue for the third quarter decreased to $29.69 million from $30.58 million a year ago. Analysts estimated revenues of $29.7 million for the quarter.
Total operating expenses for the quarter increased to $13.91 million from $12.22 million a year back.
VLTR closed Monday's regular trading at $18.40, up $0.21 or 1.15%, on a volume of 407 thousand shares on the Nasdaq.
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