GSI Technology (GSIT) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.03. The company posted revenue of $12.95 million in the period, compared to analysts expectations of $12.70 million. The company’s revenue was down -7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.
GSI Technology opened for trading at $5.14 and hit $5.24 on the upside on Thursday, eventually ending the session at $5.22, with a gain of 1.75% or 0.09 points. The heightened volatility saw the trading volume jump to 28,222 shares. Company has a market cap of $111 M.
In a different news, on Feb 19, 2016, Jack A. Bradley (director) purchased 3,000 shares at $3.55 per share price. According to the SEC, on Feb 11, 2016, Douglas Schirle (CFO) purchased 5,000 shares at $3.50 per share price. On Feb 10, 2016, Arthur O Whipple (director) purchased 5,000 shares at $3.50 per share price, according to the Form-4 filing with the securities and exchange commission.
GSI Technology Inc. develops and markets memory products including Very Fast static random access memory (SRAM) and low latency dynamic random access memory (LLDRAM). The Company’s products are incorporated primarily in networking and telecommunications equipment such as routers switches wide area network infrastructure equipment wireless base stations and network access equipment. In addition it serves in military industrial test and measurement equipment automotive and medical markets for SRAMs. It sells products to original equipment manufacturer (OEM) customers including Alcatel-Lucent Cisco Systems and Huawei Technologies. It offers products in various categories including Synchronous SRAM Products Asynchronous SRAM Products Low Latency DRAM Products and Bandwidth Engine Products. It utilizes a fabless business model which allows it to focus its resources on research and development product design and marketing and to gain access to process technologies.