Peregrine Semiconductor Reports Net Income of $5.6M for Q4Monday, February 11, 2013
Peregrine Semiconductor Corp., the San Diego maker of radio frequency integrated circuits, reported fourth quarter net income of $5.6 million, compared with a net loss of $2.7 million for the like quarter of 2011.
Revenue for the quarter came in at $63 million, up from $35.5 million in the like quarter of 2011.
For the full year, Peregrine reported net income of $7.3 million, compared with a net loss of $9.7 million in 2011.
Revenue for the past year was $203.9 million, up from $107.8 million in 2011.
CEO Jim Cable said the company continues to see its technology being widely accepted in many of the world’s smartphones and is expanding well in its targeted markets.
For the first quarter of 2013, Peregrine forecast revenue to finish in the range of $43 million to $46 million. The gross margin is expected in the range of 43 to 44.5 percent, the company said.
Peregrine, which debuted on the Nasdaq in August at $14 a share, has slipped in recent months and closed at $9.41 Feb. 7, giving it a market capitalization of $288 million.
— Mike Allen