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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (111716)	7/9/2001 9:29:07 AM
From: patron_anejo_por_favor	Read Replies (1) of 436258

CNXT rewarns: biz.yahoo.com Preliminary Third Fiscal Quarter Financial Results Preliminary third fiscal quarter revenues for Conexant's personal networking business are approximately $164 million, down 3 percent sequentially and in line with expectations established in April. The company anticipates that Mindspeed Technologies, its Internet infrastructure business, will deliver revenues of approximately $36 million for the quarter, down 56 percent sequentially due to continued weakness in the networking sector. Previously, Mindspeed revenues were expected to decline by 35 to 45 percent. In total, Conexant expects third fiscal quarter revenues of approximately $200 million, slightly below the lower end of the company's previous guidance of $206 million. Excluding the impact of special and one-time charges, the pro forma net loss for the third fiscal quarter is expected to be $0.45 per share, which is at the low end of the $0.40 to $0.45 per share prior guidance range. Third fiscal quarter results will include a one-time, pre-tax charge of approximately $475 million, primarily for asset write-downs associated with the realignment and resizing of manufacturing operations. Additionally, the company intends to establish a valuation reserve for its deferred tax assets. Essentially all of these charges are non-cash.

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