Cirrus
Logic, Inc.’s (NASDAQ:CRUS) fiscal first-quarter income dropped 25% as the chip
maker on higher expenses but shares
rallied more than 18 percent on upbeat estimates for the second quarter.
Shares
of the chipmaker rose 21.50% to $36.21 in pre-market, taking its total gains in
2012 to more than 90 percent.
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Robust
revenues led by its audio-products segment were offset by higher costs and the
company's earnings in the June quarter fell to $6.9 million or 10 cents a share
from $9.2 million or 13 cents a share a year ago.
Revenues
rose 7 percent to $99 million, though it was below analyst expectations of $101
million.
However
its third quarter estimates set its stock on fire.
The
company expects revenue for the quarter ending in September to range between
$170 million and $190 million — substantially higher than the $130 million
predicted by analysts polled by FactSet. That would mark a jump of 70 percent
from the latest quarter.
On
the other side t-shirts retailer CafePress
Inc(NASDAQ:PRSS ) saw it shares getting hammered with disappointing
guidance from the management for the September quarter, coming on top of June
quarter revenues that fell short of street expectations.
In
the three months to June the company posted revenues of $47.1 million and
non-GAAP profits of 10 cents a share against forecasts of $48.7 million and 10
cents.
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Cafe
Press is projecting revenue of $42.5 million to $45 million and non-GAAP
profits of 5-7 cents a share for September versus market consensus of $50
million and 10 cents.
For
the full year, the company sees revenue of $208 million to $217 million and
non-GAAP profits of 68-77 cents a share; the Street had been expecting $229.5
million and 80 cents a share.
The
stock closed down 40 percent at $8.25 in the pre-open session.
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