LOWELL, Mass. (AP) — LOWELL, Mass. (AP) — M/A-Com Technology Solutions Holdings Inc. (MTSI) on Thursday reported fiscal fourth-quarter net income of $24.5 million.
The Lowell, Massachusetts-based company said it had profit of 34 cents per share. Earnings, adjusted for one-time gains and costs, were 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The chipmaker posted revenue of $150.4 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $150.7 million.
For the year, the company reported profit of $91.6 million, or $1.28 per share. Revenue was reported as $648.4 million.
For the current quarter ending in December, M/A-Com expects its per-share earnings to range from 55 cents to 59 cents.
The company said it expects revenue in the range of $149 million to $153 million for the fiscal first quarter.
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