Thursday, Hittite Microwave Corp. (HITT) reported third-quarter net income of $12.0 million or $0.40 per share, a down from $13.7 million or $0.44 per share in the same quarter last year.
On average, nine analysts polled by Thomson Reuters expected the company to earn $0.35 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter was $41.5 million, down 8.9% from $45.5 million in the comparable quarter last year. Analysts expected the company to report revenue of $40.68 illion for the quarter.
Looking ahead to the fourth quarter, the company expects revenue to be in the range of $42.5 million - $43.5 million with net income in the range of $11.3 million - $12.3 million or $0.38 - $0.41 per share. Analysts currently anticipate the company to earn $0.37 per share on revenue of $42.00 million for the quarter.
For comments and feedback: editorial@rttnews.com