Just over a month after the close of its fiscal 2009 second quarter, Aviza Technology has determined that “it expects not to meet its previously announced net sales and adjusted net loss guidance,” according to a release the Scotts Valley supplier of chip equipment maker filed Tuesday afternoon.
The company now expects sales for the quarter to be between Read the rest of this entry »
The three top executives at Electronics for Imaging have volunteered to have their salaries cut “in support of the Company’s cost reduction activities due to deteriorating global economic and industry conditions,” the company said in a filing today that also included a preliminary look at earnings for its just completed first quarter.
The company sees sales coming in between Read the rest of this entry »
Marvell Technology Group, the chip maker headquartered in the Bahamas with operations out of Santa Clara, became the latest chip maker to ratchet down expectations. The company now expects sales for its fiscal 2009 fourth quarter ending Jan. 31 to be in a range of $500-$520 million, down about 28 percent from its previous projection of $690-$720 million.
“The current macro economic environment is having a significant negative impact on our business,” said Marvell Chief Executive Sehat Sutardja in a statement. “There is a great deal of uncertainty surrounding the duration and depth of the current worldwide economic slow-down. This is especially true within the PC and the consumer electronics markets.
“While visibility into future demand in these markets remains uncertain, it is clear an inventory correction process is underway in the near term. Consequently, we will continue to take actions to re-align our expense profile to the current environment.”
The board of directors at Pericom Semiconductor of San Jose decided Tuesday to change some of the terms of its change-in-control agreements it maintains with each of its executive officers, “and certain other officers to be selected by” the company’s chief executive,” according to a regulatory filing.
Among the changes instituted were that severance paid out to executives will be changed from a pay-out of Read the rest of this entry »
Atheros Communications significantly lowered its estimate for its fourth quarter sales to between $95 million and $100 million, about 30 percent below the “record” sales it reported for its 20087 third quarter, a much bigger decline than the at-most 5 percent decline it projected on Oct. 27, according to a filing the Santa Clara company made Wednesday after the markets closed.
“The economic environment deteriorated significantly throughout the fourth quarter and consumer demand across multiple geographies weakened,” according to Atheros Chief Executive Craig Barratt, in a written statement. “Additionally throughout the supply chain there have been aggressive reductions in inventory levels as the quarter progressed resulting in order cancellations and rescheduling of existing backlog. While we anticipated a weakening economy in the fourth quarter, demand from our PC OEM channel and to a lesser extent, our networking channel, slowed considerably more than expected.”
Leadis Technology, the Sunnyvale supplier of analog and mixed-signal semiconductors used in portable and consumer electronics devices, slashed its sales forecast for its current quarter by more than half from its previous target of $5.2 million in revenue, to from $2-$2.5 million. The lowered outlook fell as a result of “customer order pushouts” on the company’s two largest display-driver products built into high-end smart phones, according to chief executive Tony Alvarez in a statement.
The news won’t be music to two of Leadis’s largest investors, Read the rest of this entry »
Mattson Technology, the Fremont maker of chip-making equipment that said last month it was eliminating about 80 jobs, or 14 percent of its work force citing “a protracted downturn” in the industry, released actual results for its third quarter Wednesday, and they weren’t pretty.
Sales fell 28 percent from the previous quarter to $30 million, and that was down Read the rest of this entry »
Rackable Systems, the Fremont provider of data-center servers and storage products, lowered its guidance for its 2008 fiscal year financial results, citing a “dramatic” market downturn. Sales for 2008 are now expected to be no more than $300 million and as low as $275 billion. That’s far below the $331 to $364 million range estimated by analysts surveyed by Thomson Reuters. Rackable also expects a big loss of between $1.46 to $1.26 per share compared with the 5 to 10 cent analysts had previously expected.
“The recent market downturn has been Read the rest of this entry »
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Maxim Integrated Products, the Sunnyvale chip maker that recently completed a major restatement project caused by a history of incorrectly priced stock option grants, said it expects to report sales of about $500 to $502 million for its fiscal 2009 first quarter ended Sept. 27, slightly below the consensus estimate of $504 in a Thomson Reuters survey. The company said per-share profits would now range from 19 to 22 cents, a bit below the 23 cents most analysts had expected.
The results will include an estimated $30 to $32 million in charges “primarily related to Read the rest of this entry »
Affymetrix, the Santa Clara maker of consumables for the life sciences and health care industry, said that its preliminary results for its third quarter showed sales of about $75 million, down from the $91.5 million most analysts were expecting. That’s an 18 percent miss, about the same size drop as the company’s stock price today, which fell Read the rest of this entry »
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