Integrated Device Technology (IDTI) has reported 6.73 percent rise in profit for the quarter ended Jan. 01, 2017. The company has earned $34.74 million, or $0.25 a share in the quarter, compared with $32.54 million, or $0.22 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $49 million, or $0.35 a share compared with $52.17 million or $0.35 a share, a year ago.

Revenue during the quarter went down marginally by 0.70 percent to $176.36 million from $177.61 million in the previous year period. Gross margin for the quarter contracted 174 basis points over the previous year period to 59.02 percent. Total expenses were 81.19 percent of quarterly revenues, down from 82.75 percent for the same period last year. This has led to an improvement of 156 basis points in operating margin to 18.81 percent.

Operating income for the quarter was $33.18 million, compared with $30.63 million in the previous year period.

“Third quarter fiscal 2017 revenue totaled $176.4 million, slightly better than the midpoint of our prior guidance range, on strength in sensing solutions sold into our Consumer end market,” commented Gregory Waters, president and chief executive officer. We have increasing momentum in multiple new growth areas, particularly automotive, industrial, and sensors, that will drive future growth. Additionally, we remain disciplined in managing our operating model, delivering best-in-class profitability and earnings leverage,” concluded Mr. Waters.