--- the subscriber area has no ads ---
IDT 2Q17 results -2
Guidance for the current quarter is $176M +/- 5M, which misses by $9M
As I feared, the Note 7 cancellation is responsible for $6M of that. The rest is due to divestiture of a subsidiary. Management says that the Note 7 should be pretty much a one off for the quarter, rather than an ongoing drag.
Also as I anticipated, the memory segment was very strong, with 12% growth. Over $5M in product has already been shipped for Intel's Skylake, where IDT is expected to lead the market. This points to a strong CY 2017, so I see a possible buy the dip opportunity here.The conference call is ongoing (apologies for the typo in the original email), but I will only update again if there is something significant in the Q&A.
Integrated Device Technology has reported financial results for its second fiscal quarter of 2017:
This looks okay to me, though shares are initially down a few percent after hours. Management comments are also positive:
- EPS of 34 cents, beats by a penny
- on revenue of $184.1M, which misses original projections by just $100K, though they had trended almost $1M higher in the past few weeks.
We continue to make strong progress on our integration of ZMDI and have a clear line of sight to continued gains in operating results as we move through the fiscal year. Our new design-in funnel is extremely robust, with design-win traction and new technology innovation being delivered across all of our businesses.
However more quantified guidance will have to wait for the earnings call, which starts at 5:30. I'll have notes out as quickly as possible.