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!

Peregrine Semiconductor Announces Third Quarter 2013 Financial Results

Stocks in this article: PSMI

Peregrine Semiconductor Corporation (Peregrine Semiconductor) (NASDAQ: PSMI), a fabless provider of high-performance radio frequency integrated circuits (RFICs), today announced its third quarter 2013 fiscal year financial results.

Third quarter 2013 revenue was $60.0 million, compared with $60.6 million for the same period in 2012.

As reported under U.S. generally accepted accounting principles (GAAP), third quarter 2013 net income was $4.4 million, compared with a GAAP net income of $4.7 million in the same period in 2012. Diluted net income per share was $0.12 for the third quarter of 2013 compared to a diluted net income per share of $0.10 for the same period in 2012.

Non-GAAP net income for the third quarter of 2013 was $6.2 million, or $0.17 per diluted share based on weighted average shares outstanding of 35.8 million. This compares with non-GAAP net income of $5.9 million or $0.17 per diluted share based on weighted average shares outstanding of 33.7 million for the same period in 2012.

Gross margin on a GAAP basis for the third quarter of 2013 was 42.1% of revenue, compared to 41.3% of revenue for the same period in 2012. Gross margin on a non-GAAP basis for the third quarter of 2013 was 42.5% of revenue, compared to 41.5% of revenue for the same period in 2012.

“We reported a solid third quarter as we continue to execute our long-term strategic R&D roadmap. This week we will achieve a key milestone with the launch of UltraCMOS 10, the latest advance of our technology platform, moving us to the 130nm technology node and 200mm wafers. This was achieved through our new development and foundry partnership with GLOBALFOUNDRIES,” commented Jim Cable, President and Chief Executive Officer. “The wireless operators continue to increase the radio requirements to support LTE and LTE-Advanced networks, and this industry trend favors Peregrine as we are able to provide the truly differentiated performance needed for the carrier aggregation elements of LTE-Advanced. Despite the impact of near-term shifts in smartphone market seasonality, we are advancing our capabilities and building a technology platform with significant strategic value, and I believe the full value of our expertise will become apparent with time."

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

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