Spansion (CODE $13.12 -0.55) cut its third quarter revenue guidance
this morning, which is not below consensus.
The company updated its business outlook for the third quarter, lowering its
estimated revenue for the quarter due to softness in the wireless and consumer
markets.
Based on recent trends in those markets, the company now expects revenue between
$250 million to $$270 million (versus $306.4 mln Capital IQ consensus), compared
with its initial estimate of $285 million to $325 million. The majority of the
reduction is from the company's wireless products, which have experienced an
unexpected decline in demand and pricing. Revenue from wireless products is
expected to be less than 10% of the total revenue for the company in the third
quarter.






