Monday, Volterra Semiconductor, Corp. (VLTR) reported a sharp increase in fourth-quarter profit from the year ago on 56% higher sales from its integrated voltage regulator semiconductors and scalable voltage regulator semiconductor chips.
Volterra's fourth-quarter profit increased to $7.0 million or $0.28 per share from $1.1 million or $0.04 per share in the year-ago period.
Excluding stock-based compensation expenses, the company's non-GAAP net income rose 282% to $8.4 million or $0.34 per share from $2.2 million or $0.09 per share in the prior-year period. On average, 14 analysts polled by Thomson Reuters expected the company to post earnings of $0.21 for the quarter. Analysts' estimates typically exclude one-time items.
Volterra's net revenue increased 56% to $34.2 million from $21.9 million in the year ago; comparable to analysts estimates of $32.21 million.
Cost of revenue increased to $12.63 million from $9.61 million, R&D costs went up to $7.44 million from $6.30 million, selling, general and administrative expenses rose to $5.62 million from $4.56 million and litigation expenses shot up to $1.63 million from $332,000.
For the full year, the company's profit decreased to $10.9 million or $0.45 per share from $14.3 million or $0.57 per share last year. Non-GAAP net income declined to $16.3 million or $0.67 per share from $18.4 million or $0.73 per share in the prior year. Revenue increased to $104.93 million from $104.15 million. Analysts expected the company to report earnings of $0.53 per share on revenue of $102.99 million this year.
VLTR closed Monday's regular trading session at $17.81, up $0.34 or 1.95%, on a volume of 400,479 shares on the Nasdaq. In after-market trading, VLTR shares further rose $0.07 or 0.39% to $17.88.
For comments and feedback: editorial@rttnews.com