MEMSIC (MEMS -37.8%) gets crushed after delivering its Q1 report. Though EPS of $0.05 beat by...

|By:, SA News Editor

MEMSIC (MEMS -37.8%) gets crushed after delivering its Q1 report. Though EPS of $0.05 beat by $0.08, the company is guiding for Q2 revenue of $14M-$16M and EPS of -$0.04 to -$0.06, below a consensus of $23.1M and $0.03. MEMSIC blames a major drop in smartphone design wins with a large customer (probably Samsung, which made up 37% of 2011 sales). Fellow MEMS chipmaker InvenSense (INVN) cratered post-earnings last week.