U.S. Markets closed

Inphi: 3Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Inphi Corp. (IPHI) on Tuesday reported a loss of $16.2 million in its third quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 36 cents. Earnings, adjusted for stock option expense and amortization costs, came to 45 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The chip designer posted revenue of $94.2 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $90 million.

For the current quarter ending in December, Inphi expects its per-share earnings to range from 40 cents to 50 cents.

The company said it expects revenue in the range of $97.8 million to $101.8 million for the fiscal fourth quarter.

Inphi shares have increased 85% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $59.44, an increase of 92% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPHI at https://www.zacks.com/ap/IPHI