TranSwitch Corp: Will they get Zenith Business? Message Board

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Technology Stocks : TranSwitch Corp: Will they get Zenith Business?

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To: stock leader who wrote (651)	10/2/2002 7:48:01 PM
From: The Ox	Read Replies (1) of 669

ARM warns on 3rd-qtr profits as markets worsen LONDON, Oct 2 (Reuters) - British chip designer ARM Holdings Plc on Wednesday warned its third-quarter profit will be just half what analysts had expected, sending its shares crashing more than 60 percent. ARM, which develops and licenses designs for low-power chips used in mobile phones and other gadgets, blamed worsening semiconductor markets and said the worst-ever downturn in the chip industry had forced customers to put off purchases. "Two years of the worst downturn has finally caught up with ARM," Chief Executive Warren East told reporters. "We expect the next quarter results to be flattish compared with this quarter." ARM, which has met earnings expectations for the last 18 quarters, had been cushioned to some extent because it sells its designs for research and development -- a business that has been less affected by budget cuts. But the warning suggested its customers might be reducing R&D spend as well. "Given our guarded outlook for the rest of the semiconductor industry, we believe that visibility for ARM is unlikely to improve until some way through the first half of 2003," Morgan Stanley said in a research note. NO UPTURN IN SIGHT ARM, based in Cambridge, said it was maintaining its prices in the face of a market-wide slump, and said chipmaker customers were not defecting to cheaper designers but rather were delaying projects across the board. The firm said it did not see any significant upturn in market conditions before next year. Infineon (XETRA:IFXGn.DE - News), the world's sixth-largest chip maker and Europe's second, said last month it expected the next two quarters would be rough and a recovery would take longer. Philips (Amsterdam:PHG.AS - News) has also warned that its third quarter chip sales will fall 13-15 percent. Analysts expected chip firms to cut their R&D budgets by between 10 and 15 percent next year. full article at: biz.yahoo.com

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