Cavium, Inc. (CAVM) Tuesday said first-quarter loss narrowed to $5.31 million or $0.06 per share from $13.8 million or $0.28 per share in the same period last year.
Adjusted earnings for the quarter was $10.2 million or $0.19 per share. On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $69.53 million, up from $52.7 million last year. Analysts expected revenues of $69.27 million.
Gross margins were 65.4 percent, compared to 46.9 percent last year.
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