Xperi Corporation's (XPER) Q1 Earnings and Billings Grow Y/Y (Revised)

Xperi Corporation XPER reported adjusted earnings of approximately 61 cents per share in first-quarter 2018, up 27.1% from the year-ago number of roughly 48 cents. Adjusted earnings have been calculated on a billings basis.

Total billings amounted to $104.3 million, up 4.6% year over year. Billings came above the guided range of $99-$104 million.

Other Quarterly Details

Non-GAAP operating expenses were $62 million compared with $65.5 million in the year-ago quarter.

At quarter end, cash, cash equivalents and short-term investments were $80.8 million compared with $200.7 million at the end of the fourth quarter of 2017. Long-term debt totaled $480.3 million compared with $545.2 million at the end of the fourth quarter. The company generated $4.7 million in cash from operations in the quarter under review.

In the first quarter, the company repurchased shares for an aggregate amount of $15 million. As of Mar 31, 2018, Xperi had approximately $127.9 million remaining under its current repurchase program. It also paid $9.9 million in dividends.

Xperi Corporation Price, Consensus and EPS Surprise

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Guidance

For the second quarter of 2018, the company expects billings between $99 million and $103 million. Non-GAAP operating expenses are envisioned in the range of $62-$65 million.

For the full year, billings are expected between $415 million and $445 million. Non-GAAP operating expenses are anticipated in the range of $394-$412 million.

Upcoming Releases

Investors interested in the broader Business Services sector are keenly awaiting earnings reports from key players like ABM Industries Incorporated ABM, Accenture plc ACN and FactSet Research Systems Inc. FDC. While Accenture and FactSet Research Systems are expected to report third-quarter fiscal 2018 numbers on Jun 28 and Jun 26, respectively, ABM Industries is expected to release second-quarter fiscal 2018 results on Jun 6.

(We are reissuing this article to correct a mistake. The original article, issued on May, 07, 2018, should no longer be relied upon.)

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