LOWELL, Mass. (AP) — LOWELL, Mass. (AP) — M/A-Com Technology Solutions Holdings Inc. (MTSI) on Thursday reported fiscal first-quarter profit of $48.8 million.
The Lowell, Massachusetts-based company said it had profit of 64 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.02 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.
The chipmaker posted revenue of $271.6 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $268.9 million.
For the current quarter ending in March, M/A-Com expects its per-share earnings to range from $1.05 to $1.09.
The company said it expects revenue in the range of $281 million to $289 million for the fiscal second quarter.
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