Actel (ACTL) Tops Q3 EPS by 4c; Comments on Outlook
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Actel (NASDAQ: ACTL) reports Q3 EPS of $0.03, 4 cents better than the analyst estimate of ($0.01). Revenue for the quarter was $47.2 million, which compares to the estimate of $45.45 million.
The Company believes that fourth quarter 2009 revenues will be up two percent to six percent sequentially. Gross margin is expected to be about 59 or 60 percent. Operating expenses are anticipated to come in at approximately $26.9 million, which excludes an estimated $2.2 million of stock-based compensation expense, an estimated $1.2 million charge for the fourth quarter 2009 reduction in force, and $0.6 million associated with the acquisition of Pigeon Point Systems. Other income is expected to be about $0.7 million. The non-GAAP tax rate for the quarter is expected to be about 30 percent. Outstanding fully diluted share count is expected to be about 26.3 million shares.
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