The company, which develops semiconductor products for tablets, smartphones and broadband data cards, said it now sees revenue of $5.5 million for its fiscal first quarter ended in March, below a prior forecast for revenue within 10% plus or minus of $6.8 million.
The current average estimate of two analysts polled by
Thomson Reuters is for breakeven results on revenue of $6.8 million in the March period.
The stock was last quoted at $4.15, down 14.8%, on volume of around 24,000, according to Nasdaq.com. Based on a regular session close at $4.87, the shares have gained more than 65% in the past yea but the 52-week high of $7.20 came back on Jan. 6, and the stock has lost 22% so far in 2011.QuickLogic attributed the shortfall to a number of factors, including below-forecast sales by two of its largest Tier 1 OEM
>To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: email@example.com