GSI Technology, Inc. (GSIT) Sees Q3 Rev Above Street

January 14, 2013 4:12 PM EST
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GSI Technology, Inc. (NASDAQ: GSIT) announced that, on the basis of preliminary financial results, it expects to report net revenues of approximately $17.5 million for its third fiscal quarter ended December 31, 2012, compared to guidance of $15.0 million to $16.0 million that the Company provided early in the third quarter. GSI also reported that direct and indirect sales to its largest customer, Cisco Systems, are expected to be approximately $6.5 million in the third quarter, compared to $4.9 million in the previous quarter. In addition, shipments to military customers were up significantly compared to the prior quarter. The Company cautioned that these results are preliminary and subject to change.

(***Street estimates call for revenue of 15.5 million)

The Company expects to release its third-quarter financial results after the market close on Thursday, January 31, 2013, when management will also conduct a conference call to review the Company's third quarter financial results and its current outlook for the fourth quarter.

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