MIPS related ...
first company announces ..
biz.yahoo.com
Monday July 2, 5:00 pm Eastern Time
Press Release
MIPS Technologies, Inc. Announces Fourth Quarter Revenue to Be Below Expectation
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--July 2, 2001--MIPS Technologies, Inc. (Nasdaq:MIPS - news; Nasdaq:MIPSB - news), a leading provider of industry-standard processor architectures and cores for digital consumer and network applications, today announced that fiscal fourth quarter revenue is anticipated to be below the company's previous expectations. The company expects revenue for the fourth quarter ended June 30, 2001, to be $14 million to $15 million and is projecting earnings per share to be near breakeven. Expenses are expected to be near flat when compared to expenses in the March 2001 quarter.
``The disappointing Q4 results are primarily due to the weak technology markets that have adversely affected our existing and potential customers,'' noted Casey Eichler, chief financial officer. ``In addition, these conditions have made it increasingly difficult for us to predict period-to-period revenues as customers in this environment are frequently postponing investment decisions, often with very little notice to us.'' The company will provide more guidance for fiscal 2002 in its quarterly earnings conference call scheduled for July 17, 2001.
And now comes the analysts ... *fundamental research*
biz.yahoo.com
Tuesday July 3, 12:00 pm Eastern Time
RESEARCH ALERT-JP Morgan cuts MIPS Technologies
NEW YORK, July 3 (Reuters) - J.P. Morgan said Tuesday it cut its rating on MIPS Technologies Inc. (NasdaqNM:MIPS - news) to long-term buy from buy a day after the licenser of technology used in computer chips warned of a weaker-than-expected fiscal fourth quarter.
``Although we still like the long-term prospects for MIPS, the magnitude of the shortfall was greater than anticipated, and we do not believe the near-term opportunities for the company warrant a buy rating,'' J.P. Morgan analyst Eric Chen said in a research report.
Chen said J.P. Morgan is also lowering its estimate for MIPS fiscal 2001 to 49 cents per share from 57 cents per share. It expects earnings for fiscal 2002 of 24 cents per share down from earlier estimates of 40 cents per share.
Late Monday, MIPS said its earnings per share for the fourth quarter would be near breakeven because of a weak technology market.
MIPS shares were down $2.24, or nearly 15 percent, at $12.81 in early Nasdaq trading. Earlier the stock had fallen to as low as $12.30, a 52-week low. |
