This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Pericom Semiconductor's CEO Discusses F3Q2012 Results - Earnings Call Transcript

Non-GAAP operating expenses were $11.1 million for Q3, and was up .1 million sequentially. Going forward, our operating expenses could vary plus or minus a few percentage points in any given quarter, but we don’t expect to see any significant changes from this run rate at this point in time.

On the product development front, we have been, and we will continue to, invest in next generation solutions that will drive both growth and margin expansion for applications in server, embedded, networking and telecom and mobile computing.

The non-GAAP effective tax rate was 11% for Q3, compared with 9% last quarter. The Q3 tax rate included the impact of a favorable year-to-date (inaudible) of approximately $.2 million. Our tax rate has fluctuated a bit during the past few quarters, primarily due to the mixture of foreign versus domestic income, as well as having a lower pre-tax income amount as the basis for calculation.

Non-GAAP net income was $1.7 million, or $0.07 per diluted share for Q3, compared with 1 million, or $0.04 per share last quarter. Half of the net income increase came from the higher revenue volume, and the other half from cash investment income and tax.

Exiting Q3, our balance sheet remained in excellent shape, and we continued to generate positive cash flow. Cash, including both short- and long-term investments in marketable securities, was $125 million, which equated to $5.20 per share. During the quarter, we repurchased 426,000 shares for $3.4 million, at an average price of $8.03 per share. The balance remaining under the 2008 share repurchase plan was $3.1 million as of quarter-end. On that note, we are pleased to announce that our board of directors have approved and authorized us to repurchase an additional $25 million of common stock, commencing when the current plan ends.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs