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Exar Corp. (EXAR) filed Quarterly Report for the period ended 2012-01-01.
Exar Corp. has a market cap of $308.8 million; its shares were traded at around $6.81 with and P/S ratio of 3. Exar Corp. had an annual average earning growth of 115% over the past 5 years.
This is the annual revenues and earnings per share of EXAR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of EXAR.
Highlight of Business Operations:
We experienced a quarterly decrease of 18% in our net sales in the third quarter of fiscal year 2012 as compared to the immediate prior quarter. The decrease was reflected across all of our product lines as our customers were working through an industry-wide inventory correction and macroeconomic uncertainty remained. Additionally, we saw certain demand for our datacom and storage products weaken as our customers were unable to obtain other components due to the flooding in Thailand. Orders slowed in our third fiscal quarter, and with continued macroeconomic uncertainty and limited visibility in our customers’ buyingpatterns, we believe our revenue could fall 6% to 12% in our fourth quarter of fiscal year 2012 as compared to our third quarter of fiscal year 2012. We expect downward pressure on our gross margins in the upcoming quarter, our fourth quarter of fiscal year 2012, as manufacturing inefficiencies will occur at the projected revenue level. In the fourth quarter of fiscal year 2012, our operating spending will begin to benefit from actions taken in the fourth quarter of fiscal year 2012 to align our operational spending with our revenue levels. We estimate costs of these alignment actions to be approximately $7.0 million in the fourth quarter of fiscal year 2012 as disclosed in Note 18 – Subsequent Event. Upon completion of these actions, we expect annual net cost savings of approximately $7.0 million.
Power management products, including PowerXR, DC/DC regulators and LED drivers, for the three months ended January 1, 2012 increased by $0.3 million as compared to the same period a year ago, primarily due to PowerXR license revenue.
Net sales in Asia for the three and nine months ended January 1, 2012 decreased by $4.3 million and $9.4 million, respectively, as compared to the same periods a year ago, primarily due to lower sales across our interface, datacom and storage and communication product lines in the region.
Net sales in Europe for the three and nine months ended January 1, 2012 decreased by $1.7 million and $2.4 million, respectively, as compared to the same periods a year ago, primarily due to lower sales of our interface and power products in the region.
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