After missing analyst estimates in the fourth quarter of 2015, Inphi bounced back when it reported first quarter earnings April 28.
Inphi reported revenues of $66.5 million, up from $59.1 million during the first quarter of 2015. It barely beat analyst estimates of $66.2 million, according to Zacks Investment Research. The company reported net income of $220,000; up from a loss of $9,708 last year. Earnings per share of a penny was up from a loss of 26 cents in 2015. Earnings, adjusted for one-time gains and costs, came to 27 cents per share, which beat analyst estimates of 26 cents.
The Santa Clara-based company, which designs chips aimed at packing more memory onto Internet servers and increasing bandwidth, employs a large engineering force in Thousand Oaks.
• Contact Philip Joens at pjoens@pacbiztimes.com.