SANTA CLARA, Calif. (AP) _ SiTime Corporation (SITM) on Wednesday reported second-quarter net income of $2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Santa Clara, California-based company said it had profit of 10 cents. Earnings, adjusted for stock option expense, were 46 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The company posted revenue of $44.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $40.1 million.

SiTime shares have increased 26% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $141, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SITM at https://www.zacks.com/ap/SITM

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