Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Exar Corp. (EXAR) Reports Highest Quarterly Revenue in Fifteen Years

Exar Corporation reported its highest quarterly revenue in fifteen years, as the company shipped more than 100 million units in the first quarter of fiscal 2011, which ended 6/27/2010.

Exar Corporation reported revenue of $39.6 million in the first quarter of fiscal 2011, up sequentially from the $38.5 million reported in the final quarter of fiscal 2010. Reported revenue was up on a year over year basis as well from the first quarter of fiscal 2010, when the company came in with revenues of $30.9 million.

Despite the good top line results in the quarter, Exar Corporation was unable to convert the higher revenue into a profitable quarter on a GAAP basis. The company reported a loss in the first quarter of fiscal 2011 of $7.4 million, or ($0.17) per share.

Exar Corporation ended the first quarter of fiscal 2011 with a strong balance sheet. The company reported no long or short term debt, and cash, cash equivalents and short-term marketable securities of $208.2 million.

Exar Corporation is guiding investors to an even better revenue performance in the second quarter of fiscal 2011 (ending 9/26/2010). The company is looking for revenues to fall in a range of $40 to $42 million.

For more information on the company, go to www.exar.com

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

* Copy This Password *

* Type Or Paste Password Here *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>