January 31, 2011 / 9:37 PM / 8 years ago

UPDATE-International Rectifier Q2 beats; sees Q3 rev above est

* Q2 rev $281.7 mln vs est $281.5 mln

* Q2 EPS $0.62 vs est $0.48

* Sees Q3 rev $285-$295 mln vs est $275.5 mln

Jan 31 (Reuters) - Semiconductor maker International Rectifier Corp IRF.N, posted a quarterly profit well above expectations as gross margins improved, and said it expects third-quarter revenue above estimates.

International Rectifier, which provides power management chipsets for a slew of computing operations spanning both consumer and industrial applications, earned net income of $43.9 million, or 62 cents a share.

Analysts were expecting 48 cents a share, according to Thomson Reuters I/B/E/S.

For the third quarter, the El Segundo, California-based company expects $285-$295 million in revenue, as opposed to analysts’ expectations of $275.5 million.

Second-quarter revenue came in at $281.7 million, almost in-line with Street expectations of $281.5 million.

Shares of the company, which have gained 26 percent in value since the company announced first quarter results in Novembber, were up 2 percent in extended trading at $32.75. They closed at $32.03 on Monday on Nasdaq. (Reporting by Himank Sharma in Bangalore; Editing by Jarshad Kakkrakandy)

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