Stock Monitor: NeoPhotonics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 9, 2018 / Active-Investors.com has just released a free earnings report on Inphi Corp. (NYSE: IPHI). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=IPHI. Inphi reported its fourth quarter and fiscal 2017 operating and financial results on February 07, 2018. The high-speed data interconnect vendor exceeded earnings estimates and provided guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for NeoPhotonics Corporation (NYSE: NPTN), which also belongs to the Technology sector as the Company Inphi. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Inphi most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=IPHI
Earnings Highlights and Summary
Inphi's revenue from continuing operations advanced 6% to $85.7 million on a US GAAP basis in Q4 2017 compared to $80.9 million in Q4 2016. Revenue growth reflects an increase in demand for COLORZ® inter-data center solutions and coherent DSP products from the ClariPhy acquisition partially offset by decrease in demand for linear transimpedance amplifier and linear driver products. The Company's reported numbers fell short of analysts' estimates of $86.3 million.
For Q4 2017, Inphi's GAAP gross margin from continuing operations was 62.0%, compared to 67.1% in Q4 2016. The decrease in gross margin was primarily due to amortization of acquired intangibles from the ClariPhy acquisition and change in the product mix. The Company's non-GAAP gross margin from continuing operations for the reported quarter was 70.3% compared to 73.3% in the year earlier same quarter.
During Q4 2017, Inphi's GAAP operating loss from continuing operations was $5.3 million, or negative 6.2% of revenue, compared to GAAP income from continuing operations of $8.5 million, or 10.5% of revenue, in Q4 2016. The reported quarter loss was primarily due to amortization of acquired intangibles and increased expenses from the ClariPhy acquisition. The Company's non-GAAP operating income from continuing operations in the reported quarter was $17.2 million versus $23.4 million from continuing operations in the prior year's comparable quarter. The decrease was primarily due to the impact of Inphi's net investment in developing new Coherent DSP components as part of the ClariPhy acquisition.
Inphi's GAAP net income from continuing operations for Q4 2017 was almost break-even at $102,000 compared to GAAP net income from continuing operations of $19.1 million, or $0.42 per diluted common share, in Q4 2016. In the reported quarter, the Company recorded a tax benefit of $11.8 million primarily due to revaluation of deferred tax liabilities to the new federal tax rate of 21% and the tax effect of intercompany transfer of intellectual property rights.
For Q4 2017, Inphi's non-GAAP net income from continuing operations was $16.2 million, or $0.37 per diluted common share, compared to non-GAAP net income from continuing operations of $20.8 million, or $0.47 per diluted common share, in Q4 2016. The Company's earnings beat Wall Street's estimates of $0.36 per share.
Inphi's revenue from continuing operations in the year ended December 31, 2017, was $348.2 million compared to $266.3 million in the year ended December 31, 2016.
For FY17, Inphi's GAAP net loss from continuing operation was $74.9 million, or $1.78 per diluted share, compared to GAAP net income from continuing operations of $26.5 million, or $0.60 per diluted share. The Company's non-GAAP net income from continuing operations in FY17 was $67.2 million, or $1.52 per diluted weighted average common share, compared to non-GAAP net income from continuing operations of $66.5 million in FY16, or $1.51 per diluted weighted average common share.
Business Outlook
For Q1 2018, Inphi is forecasting revenue to be in a range of $58.0 million to $62.0 million. The Company is estimating GAAP gross margin to be approximately 55.1% to 56.9% and non-GAAP gross margin to be approximately 67.4% to 68.4%.
For Q1 2018, Inphi's GAAP results are expected to be a net loss in a range between $21.5 million to $22.7 million, or $0.50 to $0.53 per basic share.
Stock Performance Snapshot
March 08, 2018 - At Thursday's closing bell, Inphi's stock marginally climbed 0.89%, ending the trading session at $30.46.
Volume traded for the day: 575.31 thousand shares.
After yesterday's close, Inphi's market cap was at $1.30 billion.
The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry. This sector was up 0.5% at the end of the session.
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