Chip maker Hittite Microwave Corp. (HITT) reported first-quarter net income of $16.0 million or $0.52 per share, compared to $20.2 million or $0.66 per share in the comparable quarter last year.
Analysts polled by Thomson Reuters expected earnings of $0.52 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter slid 5.8% to $63.32 million from $67.24 million in the previous year quarter, while four analysts expected revenues of $61.68 million.
Looking ahead, the company expects second-quarter net income of $15.6 million to $16.4 million, or $0.51 to $0.53 per share. Revenues are expected to be in the range of $63.0 million to $65.0 million.
Analysts currently expect earnings of $0.57 per share and revenues of $65.39 million for the second quarter.
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