Shares of Impinj (NASDAQ: PI) recently plunged after the RFID (radio frequency identification) chipmaker posted its fourth-quarter earnings. The decline was surprising, since Impinj beat analysts' estimates and offered a strong forecast for the first quarter.
Impinj's revenue rose 18% annually to $40.8 million, beating estimates by $2.7 million. It generated a non-GAAP net profit of $775 million, versus a loss of $1.54 billion a year earlier, as its EPS of $0.03 cleared expectations by two cents.
For the first quarter, Impinj expects its revenue to rise 12%-24% annually, and for its non-GAAP EPS to come in between a loss of $0.11 and a profit of $0.02. Both forecasts surpassed analysts' expectations for 9% revenue growth and a loss of $0.09 per share.
Source Fool.com