* Q1 EPS $0.33 vs est $0.27
* Sees Q2 EPS $0.40-$0.44 vs est $0.37
* Sees Q2 rev $101-$104 mln vs est $100.3 mln
* Expects muted seasonality during H2FY11
(Adds details from conference call)
June 29 Chipmaker Standard Microsystems Corp
SMSC.O posted a better-than-expected quarterly profit, helped
by sales in its automotive and analog product lines, and
forecast a strong second quarter, sending shares up 6 percent.
For the first quarter, the company posted a profit of
$627,000, or 3 cents a share, compared with a net loss of $9.2
million, or 42 cents a share, in the year-ago period.
Excluding items, the company earned 33 cents while analysts
on average, according to Thomson Reuters I/B/E/S, were
expecting 27 cents a share.
Revenue rose 56 percent to $97.2 million, edging past
analysts' estimate of $92.4 million.
Revenue from its automotive segment was up, helped by sales
in luxury brands.
The company said it also saw strength in PC, PC peripheral
and industrial sales during the first quarter. While there have
been improvements, SMSC said it has not seen the expected
significant increase in PC enterprise spending.
For the second quarter, the company expects revenues to
increase about 4 percent to 7 percent sequentially, driven by
growth across product segments. Channel inventory still remains
relatively healthy, the company said.
The company said it expects seasonality to be muted during
the second half of fiscal 2011.
SMSC also said it has not seen any significant impact on
its revenue from the European credit crisis so far. The EMEA
region, driven primarily by automotive sales, contributed 20
percent of its revenue during the first quarter, the company
However, the company voiced caution over economic concerns
in Europe and said it could cause a moderation in sequential
Shares of SMSC closed at $23.34 Monday on Nasdaq. They were
trading at $24.70 after the bell.
(Reporting by Jennifer Robin Raj in Bangalore; Editing by Don
Sebastian and Vyas Mohan)