Product category:
Intellectual Property Cores
News Release from: MIPS Technologies
Edited by the Electronicstalk Editorial
Team on 05 July 2001
MIPS warns of flat fourth quarter
MIPS Technologies has warned that fiscal fourth quarter revenue is expected to be below the company's previous expectations.
MIPS Technologies has warned that fiscal fourth quarter revenue is expected to be below the company's previous expectations The company expects revenue for the fourth quarter ended 30th June 2001 to be $14 million to $15 million and is projecting earnings per share to be near break even
This article was originally published on Electronicstalk on 23 Feb 2001 at 8.00am (UK)
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Expenses are expected to be near flat when compared to expenses in the March 2001 quarter.
"The disappointing Q4 results are primarily due to the weak technology markets that have adversely affected our existing and potential customers", noted Casey Eichler, chief financial officer.
"In addition, these conditions have made it increasingly difficult for us to predict period-to-period revenues as customers in this environment are frequently postponing investment decisions, often with very little notice to us".
"We continue to see strong interest in the MIPS architecture and our core technology products", said John Bourgoin, chairman and CEO, "but we are also seeing an absolutely extraordinary number of decision postponements.
We are in the right long-term markets and we are focused on high-growth segments within these markets.
In this challenging business climate, we are managing short-term costs and expenses, while continuing to make investments in R and D to ensure our long-term success.
Clearly there are revenue challenges ahead due to weak market conditions, but MIPS remains on track to strengthen its product offering and its position as a leading provider of licensable intellectual property to the embedded markets".
MIPS results for the fourth quarter of fiscal 2001 will be released on 17th July 2001 after the close of the market.
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