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Quantenna in good shape but shares industry pain from trade wars

Quantenna has ridden the WiFi boom as the world’s principal dedicated chip vendor in the field and yet remains undervalued after reporting its latest financial results for calendar 2018 with annual revenues up 25% at $220.5 million. It ended the year even more strongly with Q4 revenue up 52% over the last three months of 2017 at $62.6 million, which was also 5% up on Q3. Operating profit doubled to $20 million, or 9% of revenue, compared to $10 million in 2017 or 6% of revenue. This was on the non-GAAP accounting method more in line with international reporting practice than the rather prescriptive US GAAP, which has rules such as having to report expenses in the same period as…

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