And for QUIK related ...
company warns ...
biz.yahoo.com
Wednesday June 27, 4:41 pm Eastern Time
Press Release
QuickLogic Revises Second Quarter Revenue Outlook
SUNNYVALE, Calif.--(BUSINESS WIRE)--June 27, 2001--QuickLogic Corporation, (Nasdaq:QUIK - news), the pioneer of ESP (Embedded Standard Product) technology, today revised its revenue guidance for the second quarter ending June 30, 2001. QuickLogic's total revenues, including revenues from the sale of V3 Semiconductor Corporation's products, are now expected to decline sequentially by 25 to 30 percent for the second quarter.
Overall sluggishness in the economy and reduced demand from a broad base of end-customers, particularly in Europe, impacted bookings and revenue in the quarter. QuickLogic now expects that its second quarter 2001 revenues, prior to any contribution from V3, will decline by 35 percent to 40 percent, instead of its prior guidance of a 15 to 25 percent decline. Revenues from a distribution agreement with V3, entered into in the second quarter, are expected to be approximately $1.1 million. QuickLogic reported $10.8 million in revenue for the first quarter of 2001.
``Bookings declined in each of the first five months of 2001. May bookings were particularly disappointing and are contributing to lower-than-expected revenues for the second quarter. At the same time, the decline in the booking rate appears to be bottoming, with a slight improvement in June,'' said Tom Hart, president and CEO. ``New design activity continues to be strong, so we remain optimistic about our long-term growth opportunities, particularly for our Embedded Standard Products. We are also very encouraged by the synergies that the V3 product line of PCI bridges, memory controllers and other system controllers has already added to our product offering.''
and now analysts warn ...
biz.yahoo.com
Thursday June 28, 12:00 pm Eastern Time
RESEARCH ALERT-Robertson Stephens cuts QuickLogic estimates
NEW YORK, June 28 (Reuters) - Robertson Stephens on Thursday said it cut its estimates for semiconductor developer QuickLogic Corp. (NasdaqNM:QUIK - news), a day after the company warned of lower second-quarter revenues because of slowing customer demand.
Analyst Eric Rothdeutsch widened his fiscal year 2001 loss view to 24 cents a share from 16 cents a share. He also cut his fiscal year 2002 estimate to 2 cents from 28 cents a share.
Rothdeutsch said he was ``cautious'' on the near term prospects of QuickLogic until the visibility and demand improve and inventory levels go down.
The analyst maintained his buy rating on the stock and his 12-month price target of $8.
Sunnyvale, California-based QuickLogic said Wednesday its second-quarter revenues will be at least 25 percent lower, because its bookings declined in the first five months of this year. |
