Irvine-based Microsemi Corp. saw higher profits that beat estimates for the quarter ended Oct. 2, the chipmaker said Thursday.
Microsemi, which has been consolidating to boost profitability, saw adjusted net earnings rise to $14.1 million for the quarter, up 76% from the year-ago period.
Analysts’ estimates for adjusted earnings were $12.8 million.
Sales climbed 21% to $79.2 million. Analysts were looking for revenue of $78.3 million.
The company’s outlook was cheery.
Earnings should come in at $14.1 million to $15.4 million, the company said, compared to earlier estimates of $14.1 million.
“We feel confident that Microsemi can exceed overall industry growth expectations,” Chief Executive James Peterson said.
Microsemi makes chips that regulate and condition electricity within electronics. Products include diodes, rectifiers, amplifiers and voltage regulators. They’re used in computers, wireless phones and defense and aerospace equipment.
The company announced earlier this month it plans to buy Bend, Ore.-based Advanced Power Technology Inc. for about $130 million in cash and stock.
Advanced Power makes high-powered chips for defense, aerospace and medical device companies.
