InvenSense swings to profit
The company made a net profit of $5.7 million on revenue of $112.5 million, which was up 25 percent from $90.3 million in the second quarter of fiscal 2015. The profit compares with a loss of $5.8 million made on revenue of $106.3 million in the previous quarter, ended June 28, 2015. In the second fiscal quarter of 2015 InvenSense made a loss of $6.8 million.
The company continues to enjoy good sales in to the consumer sector but is in the middle of a program to broaden sales into industrial, IoT and automotive applications. The company reported it has $273 million in cash and investments at the end of the quarter.
The forecast is for InvenSense to increase revenue by a few percent in the fiscal third quarter to between $115 million and $120 million and to maintain profit.
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