SiTime Stock Rises As Q1 Loss Narrower Than Street Estimates

(RTTNews) - Stock of SiTime Corp. (SITM) is climbing over 29 percent on Thursday morning after the company reported a first-quarter loss that was narrower than Street estimates.

For the quarter, loss stood at $28.7 million or $1.26 a share compared to last year's $19.9 million or $0.89 a share in the first quarter.

Excluding special items, the company revealed a loss of $1.9 million or $0.08 per share compared with profit of $5.5 million or $0.24 per share in year-ago quarter.

However, analysts surveyed by Thomson Reuters estimated a loss of $0.15 per share. Analysts' estimates typically exclude special items.

Revenue declined to $33.02 million from $42.4 million in previous year.

Currently, SiTime's stock is moving up 29.31 percent, to $125.33 over previous close of $96.92 on the Nasdaq. It has traded between $72.39 and $141.99 for the past one year.