GSI Technology (GSIT) Tops Q4 EPS by 1c

GSI Technology (NASDAQ: GSIT) reported Q4 EPS of $0.00, $0.01 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $12.2 million versus the consensus estimate of $12.8 million.

Lee-Lean Shu, Chairman and Chief Executive Officer, noted "Our net revenues and gross margin came in within the range of guidance that we had provided earlier in the fourth quarter. As in previous quarters, our gross margin came in above our operating model at 50.3%, driven by a continuing favorable mix of higher margin products. During the fourth quarter, we continued to see slowness in the telecommunications and networking markets and continued weak sales in Asia. On a positive note, our litigation-related expenses were substantially reduced in the fourth quarter as a result of the conclusion of the UMI/ISSI trial. We are pleased that the five-year period of expensive and time-consuming legal proceedings is now behind us. As we look forward, we are focused on expanding our market position in the high speed SRAM and low-latency DRAM segments and developing exciting new products based on our associative computing technology and intellectual property acquired from MikaMonu in November 2015 to exploit large potential opportunities in big data, computer vision and cyber security."

For earnings history and earnings-related data on GSI Technology (GSIT) click here.

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