Volterra Semiconductor Corp. said Monday its third-quarter profit dropped 36 percent as revenue tumbled amid the tech spending slump and it booked hefty costs for stock-option compensation.
Shares fell $2.10, or 11.4 percent, to $16.30 in aftermarket trading, having closed earlier up 21 cents at $18.40.
The Fremont, Calif.-based maker of semiconductors earned $3.4 million, or 14 cents per share, in the quarter that ended Sept. 30. That is below the $5.4 million, or 21 cents per share, it earned a year earlier.
Excluding the cost booked to cover the value of stock options issued to employees, Volterra said it earned 19 cents per share, falling a penny short of the 20-cent-per-share forecast of analysts polled by Thomson Reuters.
Revenue slipped 3 percent to $29.7 million, matching expectations.
