52 wk low after this:
MONDAY, OCTOBER 07, 2002 4:30 PM
- BusinessWire
EL SEGUNDO, Calif., Oct 7, 2002 (BUSINESS WIRE) -- International Rectifier Corporation (IRF) today announced preliminary results for the fiscal first quarter 2003. Revenues are expected to be approximately $211 million, up 5 percent sequentially, the midpoint of company guidance. Compared to the September quarter a year ago, revenues are up about 25 percent.
Gross margin is expected to be approximately 35 percent, about half a point below the company's guidance range.
The company did not see seasonal improvement in PC-related demand late in the quarter. However, IR's automotive, industrial, and defense/aerospace business showed strong sequential growth in the quarter.
Considering the uncertain PC business environment, the company now expects December-quarter revenues to be flat sequentially, plus or minus 5 percentage points, and up 16 to 29 percent on a year-over-year basis. The company's prior guidance was toward the high end of this range. Gross margin in the December quarter is expected to be in the 32 to 34 percent range, assuming no significant improvement in end-market conditions.
The company plans to announce its complete fiscal first quarter results on Monday, October 21.
International Rectifier is a world leader in power management technology that improves functionality, speed, compactness, and portability in information technology and other end products. IR's analog ICs, advanced-circuit devices, power systems, and components enable Internet hardware to gain speed and reliability, allow portable electronics to run longer off a single charge, improve automotive fuel efficiency, and cut energy consumption in home appliances and industrial motors. The company is the pioneer and market leader in the $4 billion power MOSFET industry, and over 20 companies are licensed under its power MOSFET patents. IR serves market leaders around the world, and more than half its revenue comes from outside the United States |
