He placed the earnings estimate at 60 cents to 75 cents per share. Analysts had been expecting 87 cents."
AP
Like $MCHP carefull 10% short interest.
Tuesday, July 12, 2011
$NVLS Like $MCHP;Bad Outlook. $33.45 Possible.
"He said the company is reducing its third-quarter shipments estimate to a range of $300 million to $340 million, down 5 percent to 7 percent from the second quarter. Revenue is now expected in the range of $300 million to $340 million, down 3 percent to 14 percent. Analysts been forecasting $359.7 million.
He placed the earnings estimate at 60 cents to 75 cents per share. Analysts had been expecting 87 cents."
AP
Like $MCHP carefull 10% short interest.
He placed the earnings estimate at 60 cents to 75 cents per share. Analysts had been expecting 87 cents."
AP
Like $MCHP carefull 10% short interest.
$MCHP Not Good. $31.80 Today?
The company now sees sales down 1.5% sequentially; previous guidance was for 1%-6% sequential growth. The company also said it now sees non-GAAP EPS of 53-55 cents a share, below previous guidance of 58-62 cents.
“Our net sales activity in the June quarter did not progress as we originally expected,” CEO Steve Sanghi said in a statement. “We are seeing broad-based weakness in our business due to a number of factors. In the June quarter, our automotive business was down significantly from the March 2011 quarter due to lower automotive production activities including supply issues from other manufacturers associated with the earthquake in Japan. We also believe that some of the revenue upside that we saw in the March 2011 quarter was the result of customers being cautious and accelerating purchasing activities to minimize supply chain disruptions. Therefore, we believe we were also impacted by the correction of that inventory in the June 2011 quarter. Additionally, our consumer business was soft due to poorer global economic conditions including high unemployment, high oil prices and the resulting low consumer confidence. The computing portion of our business was also lower than our expectations as we saw reduced purchases by multiple large customers in this sector.” Forbes
“Our net sales activity in the June quarter did not progress as we originally expected,” CEO Steve Sanghi said in a statement. “We are seeing broad-based weakness in our business due to a number of factors. In the June quarter, our automotive business was down significantly from the March 2011 quarter due to lower automotive production activities including supply issues from other manufacturers associated with the earthquake in Japan. We also believe that some of the revenue upside that we saw in the March 2011 quarter was the result of customers being cautious and accelerating purchasing activities to minimize supply chain disruptions. Therefore, we believe we were also impacted by the correction of that inventory in the June 2011 quarter. Additionally, our consumer business was soft due to poorer global economic conditions including high unemployment, high oil prices and the resulting low consumer confidence. The computing portion of our business was also lower than our expectations as we saw reduced purchases by multiple large customers in this sector.” Forbes
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