In Friday trading, shares of MoSys Inc. (MOSY, Financial) jumped nearly 30% after reporting first-quarter earnings of 6 cents per share on revenue of $4.2 million, up 247.1% year over year. The company managed to beat earnings estimates by 10 cents and revenue expectations by $25 million.
The GAAP gross margin increased to 62%, compared with 45% for the previous quarter and 50% for the same quarter of 2017. The sequential increase in gross margin was driven by better manufacturing efficiencies and higher licensing revenue.
“Product growth in the quarter was driven by increased shipments of our Bandwidth Engine devices, as we continued to support multiple customers, including our lead security appliance customer," President and CEO Len Perham said. "To lay the groundwork for future opportunities, our applications and product development team continues to work on additional derivatives of our Bandwidth Engine and PSE product families, such as the recently-announced BE3 device that supports industrial-temperature grade applications."
Looking ahead, the company expects total net revenue for the second quarter of 2018 to be in the range of $4.3 million to $4.5 million, with non-GAAP operating expenses in the range of $2.2 million to $2.4 million.
On the other hand, shares of Symantec Corp. (SYMC, Financial) fell more than 30% on Friday after reporting fourth-quarter 2018 earnings per share of 46 cents, which beat estimates by 7 cents. Revenue grew 4.2% from the prior-year quarter to $1.23 billion, beating expectations by $40 million.
The good earnings performance was offset by the company's announcement that it was performing an internal audit of its finances, which sent shares lower.Ă‚
ViewRay Inc. (VRAY, Financial) fell after reporting a first-quarter loss of 11 cents per share on revenue of $26.19 million. The company beat earnings expectations by 9 cents and revenue estimates by $14.25 million. Further, received new orders for MRIdian Systems reached $21.2 million, up from new orders totaling $12.3 million in the comparable prior-year quarter. Total backlog grew to $195 million, up from $144.9 million in the prior-year quarter.
Moreover, the company reiterated its guidance for full-year 2018. It projects total revenue will be between $80 million and $90 million.
Disclosure: The author holds no positions in any stocks mentioned.
