GigOptix (GIG) Boosts Q1 Revenue Outlook
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GigOptix (NYSE: GIG) announced it currently expects revenue for the first quarter of fiscal 2015, ended March 29, 2015, will be approximately 5 percent to 6 percent above the midpoint of the guidance range of $8.5 million to $8.7 million provided on February 9, 2015, and also represents an increase of approximately 22 percent to 23 percent above the revenue reported in the first quarter of fiscal 2014.
*** Consensus estimates call for Q1 revenue of $8.6 million.
The stronger preliminary revenue performance comes during what is traditionally a seasonally down quarter for the Company. Continued robust demand in both the Company’s High Speed Communications and Industrial businesses resulted in the higher than forecasted revenue.
GigOptix cautions that the anticipated first quarter fiscal 2015 revenue results are preliminary and are based on the best information currently available and subject to completion of the financial statements for the first quarter of fiscal 2015.
GigOptix will host a conference call and webcast to discuss its first quarter fiscal 2015 financial results and business outlook on April 27, 2015, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Details to join the conference call and webcast will be issued at a later date.
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