Elantec Semiconductor Drops on Revised Outlook
Elantec Semiconductor (ELNT) was down 3.2% in preopen Island trading as the chipmaker revised its third-quarter earnings outlook to a range of 6 to 8 cents a share, below the Thomson Financial/First Call estimate of 11 cents.
The company said revenue would be down 30% to 35% from the second-quarter figure of $30.6 million on market softness.
Elantec also said it was cutting 15% of its workforce.
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