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Fool Checkup: International Rectifier Earnings

Tuesday - 4/30/2013, 2:00am  ET

International Rectifier reported earnings on April 29. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 24 (Q3), International Rectifier missed estimates on revenues and exceeded expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped. Non-GAAP loss per share expanded. GAAP loss per share increased.

Margins contracted across the board.

Revenue details
International Rectifier logged revenue of $224.3 million. The six analysts polled by S&P Capital IQ foresaw sales of $229.0 million on the same basis. GAAP reported sales were 9.6% lower than the prior-year quarter's $248.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.29. The seven earnings estimates compiled by S&P Capital IQ predicted -$0.40 per share. Non-GAAP EPS were -$0.29 for Q3 compared to -$0.21 per share for the prior-year quarter. GAAP EPS were -$0.31 for Q3 against -$0.04 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 24.3%, 550 basis points worse than the prior-year quarter. Operating margin was -8.5%, 350 basis points worse than the prior-year quarter. Net margin was -9.5%, 850 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $251.1 million. On the bottom line, the average EPS estimate is -$0.28.

Next year's average estimate for revenue is $956.4 million. The average EPS estimate is -$1.32.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 142 members out of 159 rating the stock outperform, and 17 members rating it underperform. Among 36 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 33 give International Rectifier a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on International Rectifier is hold, with an average price target of $18.70.

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This article was originally published as Fool Checkup: International Rectifier Earningson Fool.com

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