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InvenSense 4Q16 results -6
The InvenSense conference call has just ened. Current quarter guidance is for sales of $58-62M, which misses by over $20M and translates to a 5 to 7 cent non-GAAP loss. Mobile pricing pressure is expected to continue for the remainder of the year. However, IoT and Other revenues represented over a third of sales and should continue to grow over time.
Apple represented 39% of total sales this quarter, and a second customer accounted for 14% . It's very possible that the second customer is a Chinese customer, rather than Samsung. Korea is not expected to represent a significant percentage of revenue this year.
To my mind, the complete lack of mention of Coursa Retail was almost as discouraging as the guidance. INVN is down below $6.50 in after hours trading, and though the company probably has about half that amount on the balance sheet, it's hard to see a reason for fundamental recovery in the near term.
On 05/09/2016 04:17 PM, Esekla wrote:
InvenSense has released results for its fourth fiscal quarter:
We'll see how guidance comes in during the conference call.
- earnings of 2 cents per share, which misses by 1 cent
- on revenue of $79.5M,which misses by $0.4M