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Monday, November 27, 2017

-=Aquantia (AQ) reported earnings on Mon 27 Nov 2017 (a/h)

Aquantia Corporation is a manufacturer of high-speed transceivers. Aquantia was founded to revolutionize Ethernet and accelerate connectivity.
Founded: 2004
Headquarters: San Jose, CA
Employees (as of 6/30/2017) 245
Lockup Period (days) 180 days

The San Jose, Calif.-based chipmaker late Monday reported an adjusted loss of 19 cents a share in the third quarter, compared with a profit of a penny a share in the year-earlier period. Sales rose 19% to $26.7 million.

Data center business accounted for 56% of total revenue, with enterprise infrastructure making up 40% of sales. The remainder of Aquantia's business came from access and automotive markets.

"In the third quarter, we delivered record quarterly revenue," Aquantia Chief Executive Faraj Aalaei said in a news release. He credited Aquantia's leadership in integrated circuits for multi-gigabit ethernet connectivity in multiple markets.

For the fourth quarter, Aquantia expects revenue in the range of $26.5 million to $28.0 million and gross profit margin to be in the range of 56% to 58%. Its gross margin in the September quarter was 56.5%.

At least five Wall Street analysts initiated coverage of Aquantia on Tuesday with buy ratings: Barclays, Deutsche Bank, Morgan Stanley, Needham and Raymond James.

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