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Strategies & Market Trends : Guidance II -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (5)	6/25/2001 6:22:12 PM
From: 2MAR$	Read Replies (1) \| Respond to of 2077

AMCC ($13) sees severe first quarter loss of 4-6c...instead of nil SAN DIEGO, June 25 (Reuters) - Communications chip maker Applied Micro Circuits Corp. <AMCC.O> on Monday lowered its fiscal first-quarter outlook to a pro-forma net loss from a pro-forma profit because of market weakness. For the quarter ending June 30, the company said it now expects first-quarter revenues in the range of $40 million to $45 million and a pro-forma net loss between 4 cents to 6 cents a share. The loss excludes anticipated restructuring and other special charges. "Current business conditions continue to be very poor," said Dave Rickey, chairman, chief executive and president. "New order activity has remained weak throughout the quarter and our overall backlog has declined. The magnitude of this downturn is greater than we, or our customers, anticipated, and the progress in reducing excess inventory in the channel appears to be slower than they originally thought." On April 24, the company said it expected first-quarter revenues between $70 million and $85 million and pro-forma net income between breakeven and 2 cents a share. ((New York Newsdesk, 212-859-1700)) REUTERS * end of story *