Atheros Communications (ATHR) Slashes Q4 Guidance

December 17, 2008 4:09 PM EST

Atheros Communications, Inc. (NASDAQ: ATHR) now expects fourth quarter revenue to range between $95 million and $100 million, a decline of 28 to 31 percent from the company's record revenue of $138.1 million in the third quarter ended Sept. 30, 2008. The company's previous guidance for the fourth quarter ending Dec. 31, 2008 was for revenue to be flat to down 5 percent from third quarter revenue.

Non-GAAP gross margins are anticipated to be in the range of 48.5 to 49.5 percent. Non-GAAP operating expenses are currently projected to be in the range of $40.5 million to $41.5 million and non-GAAP diluted earnings per share for the fourth quarter are estimated to be in the range of $0.14 to $0.19. Prior expectations for the quarter were non-GAAP gross margins of 49 to 50 percent, non-GAAP operating expenses of $43.5 to $44.4 million and non-GAAP diluted earnings per share of $0.36 to $0.40.

CEO Dr. Craig Barratt said, "The economic environment deteriorated significantly throughout the fourth quarter and consumer demand across multiple geographies weakened."

Related Categories

Guidance
Hot List

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?