Peregrine Semiconductor Announces Third Quarter 2014 Financial Results

About Peregrine Semiconductor

Peregrine Semiconductor (NASDAQ: PSMI), founder of RF SOI (silicon on insulator), is a leading fabless provider of high-performance, integrated RF solutions. Since 1988 Peregrine and its founding team have been perfecting UltraCMOS® technology - a patented, advanced form of SOI - to deliver the performance edge needed to solve the RF market's biggest challenges, such as linearity. With products that deliver best-in-class performance and monolithic integration, Peregrine is the trusted choice for market leaders in automotive, broadband, industrial, Internet of Things, military, mobile devices, smartphones, space, test-and-measurement equipment and wireless infrastructure. Peregrine holds more than 190 filed and pending patents and has shipped over 2 billion UltraCMOS units. For more information, visit http://www.psemi.com.

The Peregrine Semiconductor name, logo, and UltraCMOS are registered trademarks of Peregrine Semiconductor Corporation in the U.S.A., and other countries.

CONTACT:
Jonathan Goldberg, Senior Director of Corporate Development
Email Contact 

Investor Relations Contact:
The Blueshirt Group
Suzanne Schmidt or Melanie Solomon
415-217-4962; 415-217-4964
Email Contact
Email Contact

(Tables Follow)

 

Peregrine Semiconductor Corporation

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)




Three Months Ended


Nine Months Ended





September 27,
 2014


September 28,
 2013


September 27,
 2014


September 28,
 2013


Net revenue


$

43,123



$

60,002



$

131,500



$

158,992



Cost of net revenue


26,031



34,749



81,593



93,203



Gross profit


17,092



25,253



49,907



65,789



Operating expense:














Research and development


9,251



10,777



29,730



31,417



Selling, general and administrative


11,092



10,210



39,355



31,487



Total operating expense


20,343



20,987



69,085



62,904



Income (loss) from operations


(3,251)



4,266



(19,178)



2,885



Interest income (expense), net


54



(27)



123



(165)



Other income (expense), net


(14)



99



48



50



Income (loss) before income taxes


(3,211)



4,338



(19,007)



2,770



Income tax expense (benefit)


(63)



(95)



98



(7)



Net income (loss)


$

(3,148)



$

4,433



$

(19,105)



$

2,777

















Net income (loss) per share














Basic


$

(0.09)



$

0.14



$

(0.57)



$

0.09



Diluted


$

(0.09)



$

0.12



$

(0.57)



$

0.08

















Shares used to compute net income (loss) per share














Basic


33,572



32,394



33,261



32,163



Diluted


33,572



35,804



33,261



35,738


















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