Flash Memory Provider Spansion Lowers Guidance
Based on a review of "preliminary financial results," embedded systems solutions provider Spansion has lowered its second quarter 2013 revenue and earnings guidance, the company announced today.
Spansion's Q2 revenues, scheduled to be released "on or around July 31, 2013," were expected to range between $200 million and $220 million. However, due in large part to market weakness in Japan, according to Spansion, revenue expectations have been revised downward, and should fall between $193 million to $197 million for the quarter.
Non-GAAP, second quarter earnings estimates are now expected to range from $0.25 to $0.27 per share, as opposed to earlier guidance suggesting Spansion's Q2 earnings per share would fall between $0.16 and $0.23. The revised earnings for the recently concluded quarter are adjusted for "two one-time items related to foreign exchange and taxes that add approximately $0.10 to earnings per share," Spansion said.
The article Flash Memory Provider Spansion Lowers Guidance originally appeared on Fool.com.
Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.