ATI's(ATYT Quote) second-quarter earnings fell 40% from a year ago, as margins contracted following a repositioning in its desktop division. Excluding items, ATI's earnings were well ahead of estimates and the company issued solid guidance for the current period.
ATI earned $34.1 million, or 3 cents a share, in the quarter, compared with $57.2 million, or 22 cents a share, a year ago. Adjusted for charges, the company earned $44.8 million, or 17 cents a share, in the most recent quarter. On that basis, analysts had expected earnings of 11 cents a share, according to Thomson First Call.
Second-quarter revenue rose 11% from a year ago to $672 million, easily surpassing the Wall Street consensus of $648.4 million. ATI said its PC segment accounted for 80% of revenue in the quarter, while its consumer segment made up the rest. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
Connect with TheStreet