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Microsemi Easily Beats First-Quarter Projections

Microsemi

(MSCC)

said Tuesday that it beat Wall Street's earnings expectations for the first quarter.

The semiconductor company said it earned $4.6 million, or 31 cents a share, excluding charges and goodwill. Four analysts polled by

First Call/Thomson Financial

were expecting earnings of 27 cents a share for the first quarter. Microsemi made $1.3 million, or 11 cents a share, in the year-ago period.

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Microsemi attributed the improvement in this year's first quarter to the expansion of its revenue in the higher margin power management, RF and TVS products for mobile connectivity and telecom infrastructure applications.

First-quarter sales rose to $63 million from $51.1 million a year ago. The company also said it expects second-quarter revenue of $63 million to $68 million.

Shares of Microsemi ended at $51 in regular

Nasdaq

trading, but dipped to $49.75 in recent after-hours

Island

activity.