Friday, January 11, 2008
RF Micro Devices Inc. has cut its forecast for its fiscal third quarter ended Dec. 29, 2007 amid reduced demand late in the December quarter from customers in Asia.
As a result, RFMD expects the company's revenue for the fiscal third quarter to be approximately $268 million, of which approximately $254 million is attributable to RFMD's historical operations, excluding Sirenza. RFMD acquired Sirenza Microdevices Inc. in November.
It currently expects combined company earnings per share on a GAAP basis to be approximately minus $0.04 to minus $0.05 per share.
The forecast is far below most expectations. Wall Street expected a profit of $0.08 a share on sales $281.99 million
It's a mixed picture for the company. RFMD believes the reduction in demand is temporary and anticipates a return to growth in fiscal year 2009, which begins April 1, 2008.
In the March 2008 quarter, the company currently expects revenues for its Cellular Handset Products Group (CPG) to be down quarter-over-quarter, offset partially by its Multi-Market Products Group (MPG), which is expected to be flat to up.
Bob Bruggeworth, president and CEO of RFMD, was upbeat. ''Despite the demand weakness, we made progress on several fronts to improve our financial performance, and we continue to expect strong year-over-year growth in fiscal 2009,'' he said in a statement.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
