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InvenSense 1Q16 results ?5

Notes from prepared remarks in the conference call:

Guidance of $106-114M or, 13-15 cents per share is a little light, but I think the drop in stock price is unwarranted.
44-45% margins expected, and assets on the balance sheet continue to expand.

Ten percent customers:
38% Apple, 23% Samsung, 10% Xiaomi
Business segments:
72% mobile, 16% OIS, 12% all other

Management qualitative comments:
  • China solutions diversifying.  Software paying off.
  • Firefly gaining traction, including outside mobile.
  • OIS continuing to grow, with applications outside mobile.  EIS (electronic image stabilization) too.
  • Dead reckoning software library shipping to a major OEM.
  • Digital always on microphones expected to grow in mobile over the next year or two.

On 08/04/2015 04:18 PM, Esekla wrote:
From the press release:
we continue to gain traction with our new motion, audio and software solutions, building a design win portfolio that we expect will contribute to revenue later this fiscal year.
Hopefully that bodes well for guidance.

Also, I looked at the guidance # rather than current quarter estimates.  The $106.3M is a revenue beat of $4.6M over the latest average of estimates, which have been coming down since the company scheduled this report.

On 08/04/2015 04:11 PM, Esekla wrote:
InvenSense has reported ficsal first quarter 2016 results as follows:
  • adjusted earnings per share of 14 cents, which beats by 2 cents
  • on revenue of $106.3M, which misses by $9.7M
The conference call should start in 20 minutes, and I think guidance will be most important.