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Freescale's sales projected to fall in third quarter

Posted: 10 Sep 2004 ?? ?Print Version ?Bookmark and Share

Keywords:freescale semiconductor? ic industry? motorola?

Amid a lull in the IC industry, Freescale Semiconductor Inc. Tuesday (Sept. 7) said that it expects its sales to be flat-to-down in the third quarter of 2004.

Freescale, the chip spin-off of Motorola Inc., expects net sales for the third quarter ending Oct. 2, 2004 to range between $1.40 billion to $1.45 billion. This compares to $1.23 billion in sales for the third quarter of 2003 and $1.46 billion in the previous quarter. Net earnings in the second quarter of 2004 were $43 million, or $0.15 per share.

Gross margin percentage for the third quarter of 2004 is expected to be approximately 38 percent, compared to the 30.3 percent reported in the third quarter of 2003.

The company expects to report its actual third quarter 2004 results on October 19. Freescale announced its first financial results following its initial public offering in July (see July 16 story). The IPO pushed parent company Motorola into the red in the second quarter (see July 20 story).

Freescale represents the latest company to provide a lackluster outlook. Several chip makers, including Altera, Intel, ISSI, Sipex, and Trident, have separately lowered their quarterly forecasts amid a lull in the industry.

- Mark LaPedus

Silicon Strategies

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