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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (3322)	2/9/2008 10:26:06 AM
From: KaiserSosze	Read Replies (3) \| Respond to of 6370

Thanks for the replies. So are you saying that the comparable "takeout price" for SIRF would be $3.60, thus still over-valued?? Thanks again

To: RockyBalboa who wrote (3322)	3/25/2008 8:37:34 AM
From: RockyBalboa	Respond to of 6370

SIRF: AP SiRF to Cut Jobs, Lowers 1Q Sales View Tuesday March 25, 6:50 am ET SiRF Technology to Cut Jobs, Lowers 1st-Quarter Revenue Forecast on Soft Product Demand SAN JOSE, Calif. (AP) -- Microchip maker SiRF Technology Holdings Inc. said Tuesday that it lowered its fiscal first-quarter revenue forecast due as demand slowed more than expected, and will cut jobs due to the uncertain economy. The company now expects revenue between $60 million and $62 million for the period ended March 31, down from its prior outlook for sales of $71 million to $77 million. Analysts surveyed by Thomson Financial predict first-quarter revenue of $74.2 million. SiRF said it will eliminate 7 percent of its work force by Sept. 30 through layoffs, attrition and by cutting unessential positions. The company also plans to close offices in South San Francisco, Calif. and Stockholm, Sweden by the end of September and cancel or reprioritize some engineering products. In addition, SiRF said it ceased its mobile television technology production efforts due to a slow ramp up of the market. The changes will likely result in restructuring charges of $1.5 million to $2 million through September, according to the company.