WASHINGTON (dpa-AFX) - Hittite Microwave Corp. (HITT) reported net income for the fourth quarter of $17.7 million or $0.57 per share, compared with $21.2 million or $0.69 per share for the year-ago quarter.
The year-ago quarter results included a $5.5 million, $0.18 per diluted share, tax benefit related to the resolution of a tax audit.
Revenue for the fourth quarter rose 13.8% to $68.5 million from $60.2 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.56 per share on revenue of $67.44 million for the fourth quarter.
Looking forward to the first quarter, the company forecast revenue of $66.5 million to $68.5 million and net income of $16.7 million to $17.7 million, or $0.54 to $0.57 per share. Analysts currently expect the company to earn $0.57 per share on revenue of $68.10 million for the first quarter.
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