boosted its profit 30% in its fiscal first quarter.
The El Segundo, Calif., chipmaker said it earned $34.1 million in net income, or 47 cents a share, in the three months ended Sept. 30, vs. net income of $26.2 million, or 36 cents a share, in the year-ago period.
Excluding stock-compensation expenses, International Rectifier said it earned 49 cents a share.
The average analyst expectation, which generally excludes stock-option expenses, called for International Rectifier to earn 49 cents a share on sales of $342.4 million.
The company said it had sales of $344.2 million in the third quarter, up 7% sequentially, and at the high end of its guided range which called for a 5% to 7% rise in revenue.
Shares of International Rectifier, which makes power-management chips, were up one cent to $36.30 in extended trading.
CEO Alex Lidow said the computing and communications business led the company's growth during the quarter, with a 17% sequential rise in sales.
"This reflects the continue success in ramping our fab capacity to support a number of major programs for game stations, servers and dual-core notebooks and desktops," Lidow said in a statement.
The non-focus product group, which the company said on Wednesday it had reached an agreement to sell, saw revenue increase 12% year over year to $86 million.
Looking ahead, the company said it expects revenue to be flat to up 3% in the current quarter, suggesting a revenue range of $344 million to $354 million. The company said gross margin will be flat to up half of a percentage point sequentially.
Analysts polled by Thomson Financial expect International Rectifier to earn 54 cents a share on sales of $355.7 million in the quarter currently underway.
"IR is still in the early stage of leveraging business from our large game-station program and other sizable new programs heading into calendar 2007," said Lidow. "We have capacity this year to support this business and are planning to add an additional $100 million to $150 million in revenue potential by July 2007."
He said the company was on track to outperform the industry in revenue growth and profitability levels during its current fiscal year.