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Inphi reports revenues up for first quarter
After missing analyst estimates in the fourth quarter of 2015, Inphi bounced back when it reported first quarter earnings April 28.
Inphi reported revenues of $66.5 million, up from $59.1 million during the first quarter of 2015. It barely beat analyst estimates of $66.2 million, according to Zacks Investment Research. The company reported net income of $220,000; up from a loss of $9,708 last year. Earnings per share of a penny was up from a loss of 26 cents in 2015. Earnings, adjusted for one-time gains and costs, came to 27 cents per share, which beat analyst estimates of 26 cents.
The Santa Clara-based company, which designs chips aimed at packing more memory onto Internet servers and increasing bandwidth, employs a large engineering force in Thousand Oaks.
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