Chip maker Volterra moves to 1st-quarter profit, beating analyst expectations

Volterra moves to 1st-quarter profit, beats Street

FREMONT, Calif. — Volterra Semiconductor Corp. reported a profit for its first quarter on Monday as revenue almost doubled from the year-ago quarter. The chip maker’s results beat analyst estimates.

For the quarter ended March 31, Volterra earned $7.7 million, or 30 cents per share, compared with a loss of $519,000, or 2 cents per share, in the year-ago quarter.

Analysts polled by Thomson Reuters expected a profit of 27 cents per share.

Revenue rose to $36.3 million from $18.3 million, beating analyst expectations for $35.1 million in revenue.

In a statement, CEO and president Jeff Staszak said the company is seeing “strong performance” in its server, notebook and communications businesses.

Volterra shares rose 55 cents, or 2 percent, to close at $28.19. They earlier set a new year high of $28.87.