Actel Expects 1Q Sequential Decline In Sales

MOUNTAIN VIEW, Calif. (AP) — Programmable chip maker Actel Corp. on Thursday said it still expects first-quarter sales to decline sequentially from the fourth quarter with operating costs of at least $29 million.

The company expects first-quarter sales will decline between 10 percent and 15 percent from the fourth quarter when the company recorded $52.8 million in sales. That implies sales between $47.5 million and $44.9 million.

Actel also expects operating expenses around $29 million, excluding $1.6 million in stock-based compensation and restructuring charges.

Earlier this month, Actel said it had agreed to give an activist hedge fund three seats on its board.