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M/A-Com: Fiscal 2Q Earnings Snapshot

LOWELL, Mass. (AP) _ M/A-Com Technology Solutions Holdings Inc. (MTSI) on Wednesday reported a loss of $10.2 million in its fiscal second quarter.

The Lowell, Massachusetts-based company said it had a loss of 28 cents per share. Earnings, adjusted for one-time gains and costs, were 17 cents per share.

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

The chipmaker posted revenue of $126.4 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $123.3 million.

For the current quarter ending in July, M/A-Com expects its per-share earnings to range from 19 cents to 23 cents.

The company said it expects revenue in the range of $129 million to $133 million for the fiscal third quarter.

M/A-Com shares have increased slightly more than 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.83, more than doubling 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 MTSI at https://www.zacks.com/ap/MTSI