Virage Logic warns of profit shortfall
Friday January 3, 4:59 pm ET
biz.yahoo.com
FREMONT, Calif., Jan 3 (Reuters) - Virage Logic Corp. (NasdaqNM:VIRL - News), which licenses chip designs to microchip makers, warned on Friday that its profit would fall short of expectations as customers deferred purchases.
The company said that it expects earnings in the first quarter of its 2003 fiscal year, which ended Dec. 31, of between $100,000 and $300,000, or 1 cent a share, on revenue of between $11.5 million and $11.7 million. Wall Street analysts on average were expecting a profit of 7 cents a share, according to market tracker Thomson First Call.
In a statement, Virage Logic Chief Executive Adam Kablanian said the chip industry had slowed its adoption of next-generation tools
From Briefing.com: VIRL Virage Logic cuts Q1 outlook (9.67 +0.02) Sees Q1 (Dec) EPS of $0.01 vs Multex consensus of $0.07, revenues of $11.5-11.7 mln vs Multex consensus of $13.6 mln.
Stock down after hours.
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