Non-Conexant HBT revenues look light.
Conexant/Total was 56, 47 and 45% in Quarters 1, 2 and 3. With the weak Q3 at Conexant, I expected a bigger falloff from Q2 to Q3. These numbers were given by Richard Sneider on the Q2 and Q3 conference calls. In his presentation on yesterday's call, Section 3: Financials, he stated: "Conexant sales were 45 percent of our total sales, down from 47 in the second quarter." I'll assume that those figures are reasonably accurate and not off by more than +/- .5% due to rounding.
($, thousands)
Revenues Q2 Q3 change %
---------- ------ ------ --------
CyberD 4,845 5,350 + 10.4
HBT 19,487 17,930 - 8.0
Product 24,332 23,280 - 4.3
Total 24,395 23,831 - 2.3
Estimate based on 47 and 45 percent of Total:
CNXT 11,466 10,724 - 6.5
HBT(-C) 8,021 7,206 - 10.2
Allowing for the max rounding error and using 47.49 and 44.51 still only reduces the drop in HBT(minus CNXT) by less than a third:
CNXT 11,585 10,607 - 8.4
HBT(-C) 7,902 7,323 - 7.3
I took Sneider literally, i.e. Conexant percent of "total sales", but even if he meant percent of total product revenues, it wouldn't change the calculations in a large way:
CNXT 11,436 10,476 - 8.4
HBT(-C) 8,051 7,454 - 7.4
Either I'm missing something, or we've had a decline where an increase was expected: in non-Conexant HBT revenues. I was hoping that Conexant and non-Conexant HBT revenues would be flat and up this quarter; instead, it looks like down and down. Where's Waldo, and why isn't he buying HBT wafers?
WT |
