Exar Corporation (EXAR) swung to a net profit for the quarter ended Apr. 02, 2017. The company has made a net profit of $1.75 million, or $ 0.03 a share in the quarter, against a net loss of $2.18 million, or $0.04 a share in the last year period. On an adjusted basis, net profit for the quarter was $5.02 million, when compared with $3.82 million in the last year period.
Revenue during the quarter grew 9.75 percent to $27.81 million from $25.34 million in the previous year period. Gross margin for the quarter expanded 700 basis points over the previous year period to 54.24 percent. Operating margin for the quarter stood at negative 0.34 percent as compared to a negative 1.95 percent for the previous year period.
Operating loss for the quarter was $0.10 million, compared with an operating loss of $0.49 million in the previous year period.
However, the adjusted operating income for the quarter stood at $4.24 million compared to $1.52 million in the prior year period. At the same time, adjusted operating margin improved 925 basis points in the quarter to 15.24 percent from 5.99 percent in the last year period.
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