Exar Corporation (EXAR) Cuts Q3 Sales Guidance Below Expectations
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Exar Corporation (Nasdaq: EXAR) today announced a revision to its fiscal 2012 third quarter revenue and non-GAAP gross margin guidance. The Company currently expects revenue for the fiscal third quarter to be between $28 million and $30 million and non-GAAP gross margin to be between 48% and 50%. The Street is currently estimating sales of $33.57 million for the quarter. The company's prior guidance was $32-$34 million.
"The revenue outlook across all product lines has fallen below the original forecasted range due to weaker economic conditions in Asia and Europe and continued inventory corrections," commented Kevin Bauer, the Company's senior vice president and chief financial officer.
The Company's statements about its future financial performance or operating plans are based on current information and expectations and the Company undertakes no duty to update such statements. These statements are forward-looking and actual results could differ materially due to various risks and uncertainties, some of which are described herein.
"The revenue outlook across all product lines has fallen below the original forecasted range due to weaker economic conditions in Asia and Europe and continued inventory corrections," commented Kevin Bauer, the Company's senior vice president and chief financial officer.
The Company's statements about its future financial performance or operating plans are based on current information and expectations and the Company undertakes no duty to update such statements. These statements are forward-looking and actual results could differ materially due to various risks and uncertainties, some of which are described herein.
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