Inventory Charge Pulls Microsemi Down to $2.1-Million Quarter Loss

Microsemi Corp., a Santa Ana semiconductor company, reported a net loss for its fiscal fourth quarter of $2.1 million, or 19 cents a share. In last year’s final quarter, the company earned $2.5 million, or 21 cents a share.

The company said that a $5.9-million inventory charge during the quarter reduced net earnings by $3.7 million. Revenue for the quarter, which ended Oct. 3, rose 43% to $57.4 million.

For the year, the company had a profit of $1.5 million, or 13 cents a share, compared with net income of $11.3 million, or 98 cents a share, for the prior year. Annual revenue grew 12% to $185.1 million.