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Last Update: 29-Dec-11 10:16 ET
Exar Down Over 3% On Weak Guidance
Exar (EXAR $6.46 -0.21) is trading notably lower after issuing third quarter revenue below current consensus.
Late yesterday, the company reported that it expects third quarter revenues to fall in the range of $28 million to $30 million versus the $33.09 million Capital IQ two est avg with a non-GAAP gross margin of 48-50%.
"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."
Late yesterday, the company reported that it expects third quarter revenues to fall in the range of $28 million to $30 million versus the $33.09 million Capital IQ two est avg with a non-GAAP gross margin of 48-50%.
"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."
