Impinj shares tumble after quarterly report, forecast

Impinj

10/02/2022 16:52

** Shares in Impinj Inc  PI.O  down 19.0% at $72.66, on track
for biggest one-day pct drop since April 2021 after GAAP
earnings missed expectations in report issued late Wednesday,
while revenue beat Street estimates
    ** Stock fell as low as $70.52, with trading volume already
surpassing 10-day moving average
    ** PI reported adj EPS of $0.16 vs mean estimate of $0.03
but on a GAAP basis its $0.81/shr loss was wider than consensus
expectation for a loss of $0.50/shr 
    ** However, rev was $52.6 mln vs consensus view $51.68 mln,
as per Refinitiv  urn:newsml:reuters.com:*:nBw1j51Da
    ** For Q1, co forecast GAAP net loss between $0.58 and $0.52
per share and consensus view was for loss of $0.53/shr    
    ** PI's forecast range on adj. basis was for loss of
$0.05/shr to profit of $0.01/shr on rev of $50 mln-$52 mln ;
Analysts had been estimating Q1 rev of $50.3 mln 







 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com;))