Microsemi (NASDAQ:MSCC) 1Q17 earnings; Beats Street View

Microsemi (NASDAQ:MSCC) 1Q17 earnings; Beats Street View

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Microsemi (NASDAQ:MSCC) MSCC: (%) revealed net income for the first quarter of $ 19.50 million or 17 cents per share, compared to income of $ 23.70 million or 25 cents per share, in the year-ago period.

On net income basis, Microsemi reported $ 99.80 million or 86 cents per share.

Net Sales reached $ 435.50 million, rose 32.29% from $ 329.20 million a year ago.

Analysts polled by Thomson Reuters had expected net income of $ 0.84 a share on Net Sales of $ 435.26 million.

Microsemi currently expects net sales in the second quarter of fiscal year 2017 of between $430 million and $450 million, and non-GAAP diluted earnings per share of between $0.86 and $0.96.