Headline News | Most Popular | SoC News Alerts | RSS Feeds

Actel Corporation Reduces Third Quarter Revenue Guidance

	E-mail Save Print
	Related News
	SMIC Reiterates 2008 Third Quarter Revenue Guidance Actel Announces Third Quarter 2008 Financial Results Lattice Semiconductor Updates Guidance For Third Quarter Chartered Updates Guidance for Third Quarter Actel Confirms Second Quarter Guidance and Adds One Million Shares to its Stock Repurchase Program
	Related
	Actel Corp Silicon IPs Actel Corp Latest News
	Actel Corp Hot IPs
	MIL-STD-1553B Bus Controller 8-bit ASM51 Compatible Controller Simple Micro APB Bus Controller CoreMP7 More ...
	Breaking News
	ARC and Hellosoft Offer a VoIP Solution that Doubles the Channel Capacity of Comparable Embedded Solutions Cadence Provides Open Source OVM Adoption Solution for VMM Users in Response to Industry Demand Cadence Introduces Industry's First Family of MIPI Standard-Compliant OVM Multi-Language Verification IP Virage Logic Expands Global Sales Channel to Address Growing Market Demand for Broadening Product Portfolio Mentor Graphics Delivers Solution for SystemVerilog Base Class Library Interoperability to Enable Reuse of Legacy VMM Code in an OVM Environment
	Most Popular (Updated Daily)
	1 Virage Logic Proposes to Acquire LogicVision for $1.05 Per Share in Cash 2 Ambric Announces Sale of Company and Assets 3 ChipStart Creates New Economics for the Semiconductor Intellectual Property Market 4 ARM Releases AAC, MP3, MPEG-4, H.264 and FFT OpenMAX DL Libraries, Highly Optimized for Cortex-A8/NEON and ARM11 Processors 5 CAST Deciphers Security System Design Challenges with New AES Encryption IP See the Top 20 >>

Mountain View, Calif. – September 10, 2008 – Actel Corporation (NASDAQ: ACTL) today released its business update for the third quarter of fiscal 2008:

• The Company believes that third quarter 2008 revenues will decline sequentially seven to nine percent due primarily to weakness in the Asian consumer market. The previous guidance was one percent up to three percent down sequentially.

• Gross margin is expected to be about 58 percent. The previous guidance was 57 percent.

• Operating expenses are anticipated to come in at approximately $30.5 million, which excludes an estimated $2.0 million of stock-based compensation expense. The previous guidance was $30.7 million.

• Other income is expected to be about $1.6 million. The previous guidance was $1.8 million.

• The tax rate for the quarter is expected to be about 30 percent, which is unchanged from the previous guidance.

• Outstanding fully diluted share count is expected to be about 25.9 million shares. The previous guidance was 26.2 million shares.

As with the previous guidance, this guidance does not include any one-time charges related to the Company’s acquisition of Pigeon Point Systems during the third quarter.

Common Stock Repurchase Program

The Company’s stock repurchase program was instituted in 1998 for the purpose of replenishing some or all of the shares of Common Stock issued upon exercise of stock options and in connection with other stock compensation plans. The overall objective of the program is to reduce or eliminate earnings per share dilution caused by the issuance of such additional shares. Repurchases may be made in the open market or in privately negotiated transactions. To date, Actel’s Board of Directors has authorized the repurchase of 7,000,000 shares under the program, and 5,311,558 shares of Common Stock have been repurchased. The Company intends to continue repurchasing shares of its Common Stock from time to time as market and business conditions warrant. Actel has remaining authority to repurchase 1,688,442 shares under the program.

About Actel

Attacking power consumption at both the chip and the system levels, Actel power-smart programmable solutions enable power-efficient design. The company is traded on the NASDAQ National Market under the symbol ACTL and is headquartered at 2061 Stierlin Court, Mountain View, Calif., 94043-4655. For more information about Actel, visit http://www.actel.com. Telephone: 888-99-ACTL (992-2835).

Contact Actel Corp Fill out this form for contacting a Actel Corp representative. Your Name: Your E-mail address: Your Company address: Your Phone Number: Write your message:

E-mail This Article

Printer-Friendly Page