International Rectifier Issues Fiscal 4Q Guidance

EL SEGUNDO, Calif. (AP) — International Rectifier Corp, which makes power management chips for satellites and aircraft, on Thursday forecast fiscal 2009 fourth quarter revenue in line with Wall Street expectations.

For the three months ending in June, the company expects revenue from continuing operations to range between $130 million and $150 million.

Analysts polled by Thomson Reuters expect, on average, $140.4 million in sales.

"Current visibility is still cloudy, and although we have seen improvements in orders, particularly in Asia, we do not want to confuse inventory replenishment with a fundamental change in end-market demand," Chief Executive Oleg Khaykin said. "We continue to see strong design win traction with a number of our products, notably in servers, notebooks and energy saving appliance applications, as well as in our discrete products."

Also Thursday, International Rectifier said third-quarter losses widened due to one-time charges and revenue declines.

Shares closed down 55 cents, or 3.3 percent, at $16.27.