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Exar Corporation Q1 2016 revenue increases 24%

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Staff writer ▼ | August 5, 2015
Exar Corporation announced financial results for the first fiscal quarter of 2016, which ended on June 28, 2015. Revenue of $40.4 million, an increase of 24% versus the same quarter in the prior year.
Exar Corporation
Exar Corporation   GAAP gross margin was 43.1%
Prior year revenue has been adjusted to eliminate the impact of deferred revenue write-down under business combination accounting.

On a non-GAAP basis, gross margin was 49.5%, and operating income was $5.3 million, or 13.0% of revenue. Non-GAAP earnings per diluted share (EPS) was $0.10, up from $0.02 in the prior year.

GAAP gross margin was 43.1% and net operating loss was $2.3 million. GAAP loss per diluted share was $0.05.

Louis DiNardo, Exar's President and CEO, commented, "Clearly the semiconductor industry was impacted in the June quarter by a weakening demand environment and resulting inventory correction, however we were able to meet our expectations for the quarter."