Cavium (CAVM) Sees Lower-Than-Expected Q1 Sales, Earnings
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Cavium (Nasdaq: CAVM) sees Q1 sales to be down 6-7 percent compared to Q4 of 2011. Sees EPS about 6-7 cents per share lower than previously expected.
The company noted that revenues during the first quarter increased sequentially in the enterprise and data center markets, but declined in the service provider and broadband and consumer market. Sales in the service provider market were affected by continued inventory de-stocking, while sales into the broadband and consumer business were affected by delays in deployment of certain programs. The company expects that total sales in the second quarter of 2012 will increase sequentially.
The company noted that revenues during the first quarter increased sequentially in the enterprise and data center markets, but declined in the service provider and broadband and consumer market. Sales in the service provider market were affected by continued inventory de-stocking, while sales into the broadband and consumer business were affected by delays in deployment of certain programs. The company expects that total sales in the second quarter of 2012 will increase sequentially.
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