Identiv reports Q3 EPS (1c), consensus 2c

Reports Q3 revenue $31.8M, consensus $35.03M. “We delivered record quarterly topline revenue in the third quarter, with particular strength in our Premises segment. We fell short of our revenue expectations due to order push-outs among mostly low-margin RFID products. We continued our focus on disciplined growth, reflected in the highest gross margins and non-GAAP adjusted EBITDA in eight quarters,” said Identiv CEO Steven Humphreys. “Our high-margin Premises segment grew at more than double the industry’s growth rate, with sales to Federal customers up 16% year-over-year and to commercial customers up 14% year-over-year. RFID shipments increased 18% year-over-year to 54 million units, although as early-stage IoT applications progress through pilots toward full-scale production, demand may fluctuate quarter-to-quarter.”