Atmel Reaffirms Fourth-Quarter Guidance -- Again
Semiconductor maker
Atmel
(ATML)
really wants to get its point across.
Two days after the company said it expects sequential revenue growth of 7% to 8% in the fourth quarter, Atmel reaffirmed that it expects to meet Wall Street's forecasts after posting strong October and November results.
Shares of Atmel recently rose 12% to $10.88 in trading on the
TheStreet Recommends
Nasdaq
.
According to a poll by
First Call/Thomson Financial
, analysts expect the San Jose, Calif., company to earn 18 cents a share for the quarter, compared with earnings of 8 cents a share in the same period last year. Atmel also said demand is strong for digital cameras, fingerprint sensors, wireless LANs for networking products, and secure smart cards used in e-commerce and PC security applications.
Analysts expect fourth-quarter revenue of $573 million, compared with $388.7 million last year. Revenue totaled $530.4 million in the third quarter.
