85.7 F
San Fernando
Thursday, Jun 8, 2023

Briefs: Semtech, Capstone, Simulations Plus, Electro Rent

Semtech Corp. missed analyst estimates on earnings per share but slightly beat revenue in the fourth quarter on Wednesday. The Camarillo semiconductor manufacturer reported a net loss of 211 million (-$3.12 a share) in the quarter ending Jan. 26, compared with net income of $13.1 million (19 cents) in the same quarter a year earlier. Revenue decreased 16 percent to $127 million. Analysts estimated earnings of 23 cents on revenue of $125 million, according to Thomson Financial Network. Shares closed up 13 cents, or less than 1 percent, to $25.59 on the Nasdaq. Capstone Turbine Corp. received orders for three of its natural gas-powered microturbines for use at two Los Angeles area hospitals, the company announced Tuesday. The Chatsworth alternative energy manufacturer received the orders from Regatta Solutions, a distributor based in San Juan Capistrano. The names of the hospitals to use the microturbines were not disclosed. The order represents a continued adoption of Capstone technology in the health care industry, said Kenda Burkhart, vice president at Regatta. “The market as a whole is realizing that implementing clean and green CHP technology will deliver substantial improvements in their overall efficiency and reduce their facility’s operating expenses,” Burkhart said in a prepared statement. Shares closed down 2 cents, or 1.06 percent, to $1.86 on the Nasdaq exchange. Simulations Plus Inc. missed analyst estimates on revenue in the second quarter based on preliminary results released on Wednesday. The Lancaster developer of software that simulates drug reactions reported preliminary revenue of $3.1 million, a 1.2 percent decrease from the same period a year earlier. A single analyst estimated revenue of $3.46 million, according to Thomson Financial Network. Net income will not be known until income taxes have been determined and auditors review the quarterly report. The final second-quarter earnings report will be filed on or by April 15, the company said. Shares closed down 6 cents, or 1 percent, to $5.77 on the Nasdaq. Electro Rent Corp. announced Wednesday it would pay out a cash dividend of 20 cents per common share. The Van Nuys company will pay the dividend on April 10 to shareholders of record as of March 20. Electro Rent leases and sells computer equipment and electronic test and measurement equipment. Shares in Electro Rent closed down 49 cents, or 2.6 percent, to $18.47 on the Nasdaq.

Featured Articles

Related Articles