- Silicom (NASDAQ:SILC) shares are up 2% premarket on Q1 results that beat EPS estimates but narrowly missed on revenue. In-line Q2 guidance has revenue from $27M to $28M (consensus: $27.24).
- CEO Shaike Orbach explains miss: "During the first quarter, we were disappointed that our top-10 Cloud client aborted the massive program that promised to be such a large revenue generator for us. While this reality presents us with short-term operational and growth-related challenges, our growth strategy remains intact. This is well demonstrated by the major win that we announced today with a Tier 1 US telco. We believe that this strategy will continue to generate more design wins and lead to new engagements which, over time, will compensate for the loss of the Cloud deal."
- The earnings call began at 9 AM Eastern with webcast available here.
- Press release
- Previously: Silicom beats by $0.03, misses on revenue (April 30)
- Now read: Cisco: A Dividend Growth Giant
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