Downturn cuts inSilicon's sales, results in loss

Downturn cuts inSilicon's sales, results in loss
By Semiconductor Business News
April 5, 2001 (8:06 a.m. EST)
URL: http://www.eetimes.com/story/OEG20010405S0004

SAN JOSE -- The semiconductor slump in communications markets has lowered inSilicon Corp.'s revenue estimates, and the company now expects to report a net loss of $1.5-to-2.1 million for the fiscal quarter, ended March 31.

The company today (April 5) said a preliminary estimate shows its revenues in the just-ended quarter to be in a range of $5.2-to-5.5 million vs. $6.9 million expected by financial analysts. The lower revenues will result in a net loss of $0.11 to 0.14 per share, said inSilicon.

"The difficult economic environment affecting our customer base, especially the semiconductor and systems companies, has impacted our ability to achieve our targets," said Wayne Cantwell, president and chief executive officer of inSilicon.

"During the quarter, we were able to close most of the business that had been delayed from the first [fiscal] quarter [which ended Dec. 31]," Cantwell said. "At this time, we do not see any erosion of our mar ket share and are focused on continuing to build our position as a leading provider of communications technology for systems-on-chip designs."