Free Post Earnings Research Report: Inphi Reported Better Than Expected Results

LONDON, UK / ACCESSWIRE / July 31, 2018 / If you want access to our free earnings report on Inphi Corp. (NYSE: IPHI), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=IPHI. The Company reported its second quarter fiscal 2018 operating and financial results on July 23, 2018. The chip designer provided its outlook 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 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:

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Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, Inphi’s revenues were $69.8 million, down 17% compared to $84.4 million in Q2 2017. The y-o-y decline was due to a lower demand for long haul and metro, as well as Cortina legacy products. However, the long haul and metro product revenues grew substantially from the levels in Q1 2018, resulting in a sequential corporate revenue growth of 16%.

Inphi’s GAAP gross margin was 56.7% in Q2 2018 and Q2 2017. The Company’s gross margin on a non-GAAP basis was 68.4% in the reported quarter compared to 70.3% in the year earlier same quarter, largely due to a change in product mix.

For Q2 2018, Inphi’s GAAP loss from operations was $21.9 million, or 31.4% of revenues from operations, compared to a GAAP loss from operations of $7.9 million, or 9.4% of revenues, in Q2 2017. The Company’s non-GAAP income from operations was $7.1 million, or 10.1% of revenues, in the reported quarter versus $17.6 million, or 20.8% of revenues, in the year earlier comparable quarter.

For Q2 2018, Inphi’s GAAP net loss was $28.5 million, or $0.65 loss per diluted common share, compared to a GAAP net loss of $15.0 million, or $0.36 loss per diluted common share, in Q2 2017. The Company’s non-GAAP net income was $6.6 million, or $0.15 per diluted common share, in the reported quarter compared to $15.6 million, or $0.35 per diluted common share, in the year earlier corresponding quarter.

Cash Matters

Inphi’s overall cash was $384 million at June 30, 2018, down $10 million from the $394 million at the end of March 2018, primarily due to income taxes associated with stock withholding and RSU vesting. The Company had cash flow from operations of $8.9 million in the reported quarter compared to $11.1 million in the prior year’s same quarter. Inphi’s capital expenditure was $3.2 million in Q2 2018, down from the $14.5 million included in Q1 2018, which had included mask set purchases. The Company’s free cash flow also improved to $5.7 million in the reported quarter from $2.7 million in the previous quarter.

Business Outlook

For the third quarter of the fiscal year 2018, Inphi is forecasting revenues to be in the range of $75.5 million to $79.5 million. The Company is expecting GAAP gross margin to be approximately 60.1% to 61.3%, and non-GAAP gross margin to be approximately in the band of 70.2% to 71.0% for the upcoming quarter.

For Q3 2018, Inphi’s GAAP results are expected in the range of negative $19.5 million to negative $20.3 million, or $0.44 to $0.46 per basic share. The Company’s non-GAAP net income, excluding stock-based compensation expenses, amortization of intangibles, and inventory step up fair value related to acquisitions and non-cash interest on convertible debt, is expected to be in the band of $12.83 million to $13.83 million, or $0.28 to $0.30 per diluted share.

Stock Performance Snapshot

July 30, 2018 – At Monday’s closing bell, Inphi’s stock dropped 4.08%, ending the trading session at $31.94.

Volume traded for the day: 555.92 thousand shares, which was above the 3-month average volume of 551.53 thousand shares.

Stock performance in the previous three-month period – up 11.76%; and past six-month period – up 4.69%

After yesterday’s close, Inphi’s market cap was at $1.40 billion.

The stock is part of the Technology sector, categorized under the Semiconductor – Broad Line industry.

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