Categories Earnings, Technology

Netlist falls short of revenue estimate in Q1

Netlist Inc (NASDAQ: NLST) on Tuesday reported a first-quarter loss of $0.03 per share, 3 cents narrower than the prior-year loss, and in line with the Wall Street estimate. Net sales for the quarter fell 42% to $5.1 million, missing the consensus view of $8 million.

NLST shares ended its last trading session up 3.4 % on Tuesday. In the trailing 52 weeks, the stock has gained 135%.

CEO C.K. Hong said, “The results reflect the positive impact of ongoing cost management, which partially compensated for the short-term softness in revenue related to the global erosion in the pricing of server DRAM.

The memory products maker said its gross profit for the quarter ended March 30, 2019, was 5.5% of net sales, compared to 4.3% of net sales for the quarter ended March 31, 2018.

Last month, rival Rambus (NASDAQ: RMBS) reported a loss of 8 cents per share in the first quarter of 2019, even as analysts were expecting earnings of 23 cents per share. Investors sent the stock down over 13% immediately following the disappointing earnings announcement. 

READ: THE CANNABIS-BEVERAGE INDUSTRY IS SOMETHING YOU DON’T WANT TO MISS THIS YEAR

Netlist offers Hybri dual in-line memory module (DIMM), a storage class memory product, which unifies dynamic random access memory (DRAM) and NAND flash, delivering terabyte storage capacities operating at nanosecond memory speeds.

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