Mindspeed Technologies (MSPD) Slightly Boosts Q1 Outlook

December 4, 2012 7:08 AM EST
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Mindspeed Technologies, Inc. (NASDAQ: MSPD) now forecasts Q1 product revenue in the range of $37.5 to $38.5 million, versus a prior range of $36.5 to $37.5 million and the consensus of $38.7 million.

Mindspeed also projects non-GAAP product gross margins toward the higher end of its previous guidance range of 58-59%. Further, Mindspeed forecasts reaching non-GAAP operating profitability in the fiscal first quarter of 2013, one quarter ahead of the plan it laid out in the fiscal third quarter of 2012.

"We are seeing better than forecast demand across our product lines, leading to the upside versus our prior guidance. The rollout of our Transcede® SoC in the 4G/LTE small cell deployments in Korea is on target, while our wireline businesses are continuing their upward order trend," commented Raouf Y. Halim, Mindspeed's chief executive officer. "Importantly, we are also putting these gains to the bottom line and executing to the restructuring plan we laid out two quarters ago. Having completed a year of meaningful investment in our wireless growth initiative, we now anticipate significant earnings leverage and improved cash flow going forward in fiscal 2013."

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