Inphi Down 28% on Disappointing Q2 Guidance

Inphi Corporation

is one the biggest losers on the session following its Q1 earnings and Q2 guidance that were announced yesterday. The company reported an EPS of EPS $0.03 vs $0.04 estimate and revenues of $20.2 million vs $20.02 million estimate. Inphi guided Q2 EPS $0.02-0.04 vs $0.08 estimates and revenue up 5-10% from Q1 vs 15% estimate. Ford Tamer, CEO of Inphi stated: "I am pleased to report sequential revenue growth in my first quarter at Inphi and expect this trend to continue throughout the year. After almost three months as the CEO of Inphi, I can say that I continue to be impressed with the strength of Inphi's customer engagements, the depth of our relationships with ecosystem partners and the high quality of our team. I am enthusiastic about our prospects and where we will take Inphi as a company." Inphi is currently trading at $9.85, a loss of $3.84 or 28.05%.