Microsemi Posts Lower Net Income, Revenue for Fiscal 4th Quarter

Santa Ana-based semiconductor company Microsemi Corp. posted a 32% decline in earnings for the fiscal fourth quarter, while sales fell 9%.

Net income for the three months ended Sept. 27 fell to $2.5 million, or 21 cents a share, from $3.7 million, or 34 cents a share, for the prior-year period. Revenue declined to $40.2 million from $44.2 million.

The company said its order backlog at the end of the quarter stood at $51 million, down from $68 million last year. Microsemi attributed the decline, in part, to softness in the space, telecom and commercial markets.

For the year, net income rose 2% to $11.3 million, or 98 cents a share, from $11.1 million, or $1.03 a share, for the previous year. Sales increased 1% to $164.7 million from $163.2 million.