Boston, MA 05/06/2014 (wallstreetpr) – InvenSense Inc (NYSE:INVN) is expecting the revenue for the first quarter of the next fiscal to be at the level of around $65 million. Earnings per share for the same period is estimated to be about $0.07, on a non GAAP basis. The company is expecting its revenue to grow by about 25-35% in the next financial year. For the next year, earnings per share are expected to be between $0.70 to $0.75. The company lapped up a revenue of $252.53 million in the last financial year. For the current quarter of this financial year, revenue in the range of $68-$70 million is expected. This would be over 20% sequential growth.
InvenSense Inc (NYSE:INVN) is expecting the revenue in the last quarter of this year to be between $55-$58 million. Earnings per share in the same period are estimated at nearly $0.09-$0.11 per share. The same is on a non GAAP basis.
Strategic alliances
Sonion A/S and InvenSense Inc have agreed to form a strategic business alliance where both companies will come together for developing MEMS microphones and other related technologies for deploying in a wider range of hearing applications. Sonion will be having exclusive and full rights to sell off InvenSense MEMS microphone products to hearing aids for hearing health. InvenSense will be Sonion’s main source of MEMS microphone products and related technologies, while InvenSense will continue selling MEMS microphones to other hearing applications.
InvenSense Inc (NYSE:INVN) and STMicroelectronics NV have settled all proceedings that had been pending between them. They have now entered into a patent agreement which is cross license. As per the terms and conditions of the settlement, neither of the two companies has made a liability admission with regard to such proceedings. Other terms of the agreement between the companies have not been made public.
Analog Devices has successfully completed the sale of assets of its microphone product unit to InvenSense Inc (NYSE:INVN). The deal had been cracked for a total cash consideration of $100 million. The same has been paid to Analog and includes the buying price for all assets that were acquired and related to digital and analog output microphones and also a few specific support operations. Analog recorded a single time gain in the last quarter of last year on account of this transaction.
