SAN JOSE, Calif. (AP) _ Integrated Device Technology Inc. (IDTI) on Monday reported fiscal second-quarter net income of $24.6 million.
The San Jose, California-based company said it had profit of 18 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 34 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The chipmaker posted revenue of $184.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $184 million.
Integrated Device Tech shares have decreased 21 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.71, a drop of 15 percent in the last 12 months.
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