Applied Micro Circuits Falls on Warning
Communications chipmaker Applied Micro Circuits (AMCC) was down 12% in preopen Island trading.
After the close Monday, the company lowered its first-quarter outlook for a second time to a loss of 4 to 6 cents a share on revenue between $40 million to $45 million. The loss excludes restructuring charges.
The company had earlier said earnings would be breakeven to 2 cents a share on revenue of $70 million to $85 million, lower than analysts at the time were estimating. The company blamed excess inventory among its customers.
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