MIPS Tech, RF Micro: After-Hours Trading

NEW YORK ( TheStreet) -- MIPS Technologies ( MIPS) was weak in after-hours action on Tuesday after the Sunnyvale, Calif.-based semiconductor designer's revenue for its fiscal second quarter came in just shy of Wall Street's expectations.

The company posted an adjusted profit of $7.5 million, or 14 cents a share, for the three months ended Dec. 31, a penny ahead of the average estimate of analysts polled by Thomson Reuters, but revenue totaled $21.9 million vs. a consensus view of $22.3 million.

Revenue from royalties swelled to $14.8 million in the latest quarter from $13.6 million in the September period, while license and contract revenue of $7 million declined on a sequential basis from $8.9 million.

The stock was last quoted at $13.57, down 10.3%, on volume of more than 500,000, according to Nasdaq.com. Based on a regular session close at $15.13, the volatile shares -- which hit a 52-week high of $18.19 on Jan. 14 -- have jumped an amazing 250% in the past 52 weeks.

RF Micro Devices

Shares of RF Micro Devices ( RFMD) dropped in after-hours action on Tuesday after the Greensboro, N.C.-based chip maker fell short of Wall Street's revenue view in its latest quarter and forecast a sequential decline of 10-15% in revenue for the current period.

The company posted an adjusted profit of $52.6 million, or 19 cents a share, for its fiscal third quarter ended on Jan. 1, coming in a penny ahead of the average estimate of analysts polled by Thomson Reuters, but its revenue total of $278.8 million -- an 11% increase year-over-year -- was below the consensus view of $285.8 million.

Based on its third-quarter total and the outlook for a 10-15% decline, RF Micro is projecting revenue of between $237 million and $251 million for its fiscal fourth quarter ending in March. The current average analysts' view calls for revenue of $259.3 million in the March period.

RF Micro also said Tuesday it expects to see an additional $25 million decline in transceiver revenue in the March quarter "consistent with the anticipated end-of-life of legacy transceiver products" and that it anticipates transceivers will be immaterial to its financial results from the June quarter forward.

Perhaps to soften the blow of the comparatively weak revenue view, RF Micro said its board has approved the buyback of up to $200 million worth of its common stock over the next two years.

RF Micro shares fell almost 9% to $7 on after-hours volume of 2.7 million. Based on a regular session close at $7.66, the shares have appreciated more than 85% in the past 52 weeks; although it's pulled back 4% since hitting a 52-week high of $8.37 on Jan. 13.

Yahoo!

It was another mixed report from Yahoo! ( YHOO) as the Internet search and content provider beat Wall Street's profit expectations, but revenue declined over last year, pushing the stock down in after-hours trading.

The company also forecast revenue excluding traffic acquisition costs of $1.02 billion to $1.08 billion for the first quarter, below the current average estimate of analysts polled by Thomson Reuters for revenue of $1.13 billion in the March period.

Yahoo! also estimates income from operations of $130 million to $160 million in the March quarter, down on a sequential basis from its total of $220 million in the December period.

The stock fell 2.3% to $15.65 in extended action on volume of 3.8 million. Yahoo! shares have been relatively stagnant over the past 52 weeks -- rising less than 2% vs. a gain of 18% for the S&P 500 -- as the company struggles to reinvent itself to focus more on content than Internet search.

DeVry

Shares of DeVry ( DV) rose in late trades after the Downers Grove, Ill.-based education company reported strong results for its fiscal second quarter ended Dec. 31.

DeVry said it earned $89 million, or $1.25 a share, as revenue rose 17% year-over-year to $551.5 million. The average estimate of analysts polled by Thomson Reuters was for a profit of $1.19 a share in the December period on revenue of $548.5 million.

The company said total undergraduate enrollment rose 14.9% in the fall with new undergraduate enrollment down 4.7%. DeVry and the other for-profit education providers have struggled in the past few months with uncertainty as the government mulls tighter regulation of the industry.

"Despite some near-term enrollment challenges that we are actively managing, we executed well against our strategy in the first half of fiscal 2011," said Daniel Hamburger, DeVry's president and CEO, in a statement. "I am confident our diversification strategy will serve us well in the second half of the year and beyond, as we continue to help our students achieve their career aspirations."

The stock was last quoted at $49.97, up 5.4%, on volume of almost 65,000, according to Nasdaq.com. In the past year, the shares are down more than 14%. Wall Street was still pretty bullish, however, with 15 of the 22 analysts covering the stock at either strong buy (9) or buy (6).

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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