This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Mindspeed Reports Fiscal Third Quarter 2013 Results

Stocks in this article: MSPD

NEWPORT BEACH, Calif., July 30, 2013 (GLOBE NEWSWIRE) -- Mindspeed Technologies, Inc. (Nasdaq:MSPD), a leading supplier of semiconductor solutions for communications infrastructure applications, today reported results for its fiscal third quarter of 2013. For the quarter ended June 28, 2013, Mindspeed recorded net revenue of $35.6 million, a loss per share of $0.01 on a non-GAAP basis, and earnings per share of $0.04 on a GAAP basis.

Revenue from high-performance analog (HPA) products was $15.3 million, or 43 percent of fiscal third quarter 2013 net revenue, and was down 3 percent versus the prior fiscal quarter. Revenue from communications processors was $17.7 million, or 50 percent of net revenue, and was up approximately 3 percent versus the prior fiscal quarter. Wireless infrastructure revenue contributed $2.6 million in the quarter, or approximately 7 percent of total revenue, and was up 3 percent versus the prior fiscal quarter. 

Non-GAAP operating profit for the fiscal third quarter of 2013 was approximately $644,000, compared to a non-GAAP operating loss of $541,000 in the prior fiscal quarter. GAAP operating loss for the fiscal third quarter of 2013 was $3.5 million, compared to a GAAP operating loss of $39.3 million in the prior fiscal quarter. Non-GAAP net loss for the fiscal third quarter of 2013 was $461,000, or $0.01 per share, compared to a non-GAAP net loss of $978,000, or $0.02 per share, in the prior fiscal quarter. GAAP net income in the fiscal third quarter of 2013 was $1.6 million, or $0.04 per share, compared to a GAAP net loss of $40.1 million, or $1.00 per share, in the prior fiscal quarter.

"We are pleased to report results that exceeded our expectations for the fiscal third quarter," commented Raouf Y. Halim, chief executive officer at Mindspeed. "We believe we have a strong set of product families, ranging from high-performance analog to communications processors and wireless infrastructure, that will continue to strengthen our market position."

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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