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Inphi reports upside preliminary Q1

Apr. 21, 2020 7:55 AM ETInphi Corporation (IPHI) StockIPHIBy: Brandy Betz, SA News Editor1 Comment
  • Inphi (NYSE:IPHI) expects revenue of $138.1-139.4M (consensus: $131.5M) for the period ending March 31.
  • Adjusted operating income is expected between $33.9-34.5M.
  • The company had $238.2M in cash and equivalents at the end of the quarter.
  • Management coronavirus quote: "COVID-19 has had a significant impact on the global economy, including accelerating the secular shift to cloud computing and concurrently driving a sharp increase in the demand for bandwidth. We expect our business to continue to be favorably impacted by these phenomena."
  • Inphi also announces plans to offer $330M of convertible senior notes due 2025 in a private offering.
  • Initial purchasers can buy up to $50M in additional notes.

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