Integrated Device Technology Q2 Results Top Estimates

(RTTNews) - Integrated Device Technology, Inc. (IDTI) reported net income for the second quarter of $14.4 million or $0.09 per share, compared to $83.7 million or $0.54 per share for the year-ago quarter.

Income from continuing operations for the second quarter was $24.2 million or $0.16 per share, compared to $87.4 million or $0.57 per share in the prior year quarter.

Excluding items, adjusted net income for the second quarter was $31.8 million or $0.20 per share, compared to $18.5 million or $0.12 per share in the same period one year ago.

Revenue for the second quarter rose to $137.09 million from $124.05 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.18 per share on revenue of $133.78 million for the second quarter. Analysts' estimates typically exclude special items.