Shares of Sigma Designs Inc. (SIGM, Financial) skyrocketed on Friday after Silicon Laboratories Inc. (SLAB, Financial) announced it is buying the company for $282 million.
For the third quarter, the company posted a loss of 25 cents per share on $33.9 million in revenue. The company fell 10 cents short of earnings expectations and missed revenue estimates of $38.55 million.
The GAAP gross margin grew to 50.5% from 49.4% in the year-ago quarter. The non-GAAP gross margin was 54.7%, up from 51.0% in the prior-year quarter.
Shares of Science Applications International Corp. (SAIC, Financial) jumped on quarterly results. Third-quarter EPS of 93 cents beat expectations by six cents and revenue of $1.15 billion beat estimates of $1.11 billion.
CEO Tony Moraco praised the company's revenue growth and improved profitability.
“In addition to the continued strong business development results, I am encouraged by the ongoing actions to align operations to our long-term strategy to drive the future success of the company,” he said.
Shares of Cloudera Inc. (CLDR, Financial) gained more than 7% on Thursday after reporting a loss of 17 cents per share on revenue of $94.6 million Wednesday. The company beat earnings expectations by seven cents and surpassed revenue estimates of $91.26 million. Revenue increased 40.6% from the prior-year quarter.
CEO Tom Reilly said Cloudera bolstered its competitive advantage in cloud analytics through product innovation.
"We are now at the scale where we can execute on multiple fronts concurrently," he said. "In addition to substantial enhancements to our machine learning and analytics platform, we expanded our cloud Platform-as-a-Service offerings with an extension of Cloudera Altus Data Engineering to Microsoft Azure as well as a new data warehouse cloud service, Cloudera Altus Analytic DB. Also, our financial model is exhibiting consistent operating leverage as we march toward operating cash flow break-even."
Looking ahead, guidance is solid. The company expects total revenue to be between $97 million and $99 million and subscription revenue in the range of $80 million to $82 million. Further, non-GAAP net loss is projected to be between 24 cents and 22 cents per share.
Disclosure: The author holds no positions in any stocks mentioned.
