InvenSense fiscal 3Q16 report -3

Guidance for the current quarter is light, at $77-83M vs consensus of $104M, and EPS of 0-2 cents vs 12 cents.

This seems to be a combination of Apple softness, and Samsung slipping to a single digit percentage of business due to dual-sourcing with STM for the next couple of quarters.  Apple and Samsung were 43 and 13 percent of business, respectively last quarter.  That is partially offset by new business outside of mobile.  Until flexible devices start to debut, it's going to be tough going in mobile.  However, management is being conservative in both guidance and spending.  In fact, about 50 cents of net value was added to the balance sheet this past quarter, as shown in the 8-K.

Points of growth in the meantime are:
  • first high-end microphone for Chinese customer, with more expected.
  • currently in trials on fingerprint sensor, which will demo at MWC, and should by year end
  • Coursa Sports offers 50% less power consumption than GPS, as well as more accuracy
The conference call is ongoing, but INVN is down after hours.  Markets seem focused on the short term for the time being.

On 01/27/2016 04:19 PM, Esekla wrote:
InvenSense has reported earnings for its third fiscal quarter of 2016:

EPS of 18 cents per share, which is in-line
on revenue of $120M, which by beats by $2M