GSI Technology Estimates 3Q Revenue To Top High End Of Target
January 10 2012 - 7:30AM
Dow Jones News
GSI Technology Inc. (GSIT) estimated its fiscal third-quarter
revenue will exceed its forecast and said it sees sales to its
largest customer, Cisco Systems Inc. (CSCO), increasing from the
preceding quarter.
The maker of static random access memory products predicted
revenue for the quarter ended Dec. 31 to come in above the $18.2
million to $19.2 million range targeted in October.
The company also estimated direct and indirect sales to Cisco at
roughly $9.7 million in the third quarter, compared with $7.9
million in the second quarter and $9.8 million a year earlier.
GSI expects to report complete results for the third quarter
later this month. The company in October reported its
second-quarter profit dropped 68% from a year earlier after it
recorded lower sales to Cisco and weaker demand from customers in
Asia.
Shares closed Monday at $13.31 and were inactive in premarket
trade. The stock is down 10% in the past three months.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com
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