Pericom Semiconductor Corp. (PSEM) posted first-quarter net income of $1.3 million or $0.05 per share compared with $3.7 million or $0.14 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share. Analysts' estimates typically exclude special items.
Net revenues for the quarter were $33.0 million, down 24.8%, compared with $43.8 million in the previous year period.Analysts expected revenues of $32.00 million for the quarter.
Looking ahead for the second-quarter, the company expects net income from unconsolidated affiliates PTI and JCP to be about $0.4 million and revenues in the range of $34.0 million - $36.0 million. Analysts currently expect revenues of $33.20 million for the second quarter.
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