Inphi (IPHI) Cuts Q3 Outlook; Withdrawals Q4 Outlook
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Inphi Corporation (NYSE: IPHI) has cut its outlook.
On July 26, 2011, the company announced its financial results for the second quarter of fiscal 2011 and provided its business outlook for the third and fourth quarters of 2011. Since that time, the company has become aware of a likely further delay in shipping its next generation iMB" and RDIMM products as well as a slower-than-anticipated rate of orders currently being booked by customers for the third quarter.
Third-quarter non-GAAP EPS goes to $0.00 to $0.03 with Q311 revs of $16 to $18 million. Consensus sees EPS of $0.10 and revs of $22.76 million.
At this time, Inphi is withdrawing its prior outlook for the fourth quarter and no longer expects significant sequential Q4 revenue growth. Future revenues are expected to grow once next-generation server platforms are shipping in production volumes.
On July 26, 2011, the company announced its financial results for the second quarter of fiscal 2011 and provided its business outlook for the third and fourth quarters of 2011. Since that time, the company has become aware of a likely further delay in shipping its next generation iMB" and RDIMM products as well as a slower-than-anticipated rate of orders currently being booked by customers for the third quarter.
Third-quarter non-GAAP EPS goes to $0.00 to $0.03 with Q311 revs of $16 to $18 million. Consensus sees EPS of $0.10 and revs of $22.76 million.
At this time, Inphi is withdrawing its prior outlook for the fourth quarter and no longer expects significant sequential Q4 revenue growth. Future revenues are expected to grow once next-generation server platforms are shipping in production volumes.
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