GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Applied Micro Circuits Corporation Updates Third Quarter Fiscal 2009 Revenue Guidance

December 16, 2008 | About:

SUNNYVALE, Calif.--(BUSINESS WIRE)--Applied Micro Circuits Corporation (AMCC) today announced that it expects its revenue for the quarter ending December 31, 2008, the third quarter in its 2009 fiscal year, to

Press Release: Applied Micro Circuits Corporation Updates Third Quarter Fiscal 2009 Revenue Guidance

Applied Micro Circuits Corporation is a global leader in network and embedded PowerPC processing optical transport and storage solutions. The Company's products enable the development of converged IP-based networks offering high-speed secure data high-definition video and high-quality voice for carrier metropolitan access and enterprise applications. AMCC provides networking equipment vendors with industry-leading network and communications processing Ethernet SONET and switch fabric solutions. AMCC is also the leading vendor of high-port count SATA RAID controllers enabling low-cost high-performance high-capacity storage. AMCC's corporate headquarters are located in Sunnyvale California. Sales and engineering offices are located throughout the world. Applied Micro Circuits Corp. has a market cap of $216.7 million; its shares were traded at around $4.01 with a P/E ratio of 13.8 and P/S ratio of 0.88.

More on AMCC:

Gurus buys and sells of AMCC

10-year financial history of AMCC.

Insider buys/sells of AMCC.

Press Release:



SUNNYVALE, Calif.--(BUSINESS WIRE)--Applied Micro Circuits Corporation (AMCC) today announced that it expects its revenue for the quarter ending December 31, 2008, the third quarter in its 2009 fiscal year, to be down sequentially by approximately 20-25 percent compared to the second quarter of the 2009 fiscal year. Prior guidance for the third quarter was that revenue would decrease approximately 10 percent from the level reported in the second quarter. The Company is experiencing slower than anticipated sales across all market segments. About AMCC AMCC is a global leader in energy efficient sustainable solutions to Process, Transport, and Store information for the next generation of internet data center and carrier central office. AMCC is a leader in high speed signal processing, IP & Ethernet packet processing, and storage controllers and processors. AMCC's patented innovations in high speed mixed signal, Forward Error Correction, RAID, and packet processing provide high value solutions. AMCC's corporate headquarters are located in Sunnyvale, California. Sales and engineering offices are located throughout the world. AMCC maintains a web site at http://www.amcc.com to which AMCC regularly posts copies of its press releases as well as additional information about AMCC. Interested persons can subscribe on AMCC’s website to email alerts or RSS feeds that are sent automatically when it issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. Forward Looking Statements This press release contains forward-looking statements that reflect the Company's current view with respect to future events and financial performance, including statements regarding future revenues. These forward-looking statements are only predictions based on current information and expectations and are subject to certain risks and uncertainties, including, but not limited to, customer demand for the Company's products, the businesses of the Company's major customers, reductions, rescheduling or cancellation of orders by the Company's customers, and general economic conditions. More information about potential factors that could affect the Company's business and financial results is included in the "Risk Factors" set forth in the Company's Annual Report on Form 10-K for the year ended March 31, 2008, and the Company's other filings with the Securities and Exchange Commission. Actual results could differ materially, as a result of such factors, from those set forth in the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the issuance of this press release.


Source: BusinessWire

More on AMCC:

Gurus buys and sells of AMCC

10-year financial history of AMCC.

Insider buys/sells of AMCC.


Rating: 3.0/5 (1 vote)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK