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InvenSense 4Q16 results -6

17:13 09-May-16


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:
  • earnings of 2 cents per share, which misses by 1 cent
  • on revenue of $79.5M,which misses by $0.4M
We'll see how guidance comes in during the conference call.