Microsemi Q4 Profit Meets Estimate

(RTTNews) - Microsemi Corp. (MSCC) reported net income for the fourth quarter of $32.8 million or $0.34 per share, compared to $14.1 million or $0.15 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $61.4 million or $0.64 per share, compared to $49.1 million or $0.53 per share in the prior year quarter.

Net sales for the fourth quarter rose 21.1% year-over-year to $303.3 million.

Analysts polled by Thomson Reuters expected the company to earn $0.64 per share on revenue of $301.88 million for the fourth quarter. Analysts' estimates typically exclude special items.

Microsemi currently expects net sales in the first quarter of fiscal year 2015 to be flat with a range of plus or minus 2 percent and expects adjusted earnings per share of between $0.63 and $0.68. Analysts currently expect the company to earn $0.65 per share for the first quarter.