Spreadtrum (SPRD) Boosts Q2 Revs Outlook; Cites Strong Demand in Low-Cost Smartphones
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Spreadtrum Communications, Inc. (Nasdaq: SPRD) updated its financial guidance for the second quarter ending June 30, 2013. The company now expects that its revenues will be between US$270 million and US$278 million, an increase of 42.9% to 47.1% over the first quarter. The Company's previous guidance for the second quarter revenue was US$220 million to US$228 million. The Company continues to expect an improvement to gross margin.
The Street currently sees revs of $224.1 million.
"We are increasing our revenue guidance due to the continuing strong demand throughout the quarter for low-cost smartphones," said Dr. Leo Li, chairman and CEO of Spreadtrum. "We are at the start of a multi-year cycle in China and emerging markets of subscribers transitioning from 2.5G feature phones to smartphones, and are also benefiting from the continuing expansion of our smartphone portfolio."
The Street currently sees revs of $224.1 million.
"We are increasing our revenue guidance due to the continuing strong demand throughout the quarter for low-cost smartphones," said Dr. Leo Li, chairman and CEO of Spreadtrum. "We are at the start of a multi-year cycle in China and emerging markets of subscribers transitioning from 2.5G feature phones to smartphones, and are also benefiting from the continuing expansion of our smartphone portfolio."
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