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California Micro Devices (CAMD) was down 16% in early trading after falling to a 52-week low of $5.50.

The company after the close Thursday said it expects third-quarter earnings to be 10%-20% below the

First Call/Thomson Financial

estimate of 14 cent per share. It also said revenue would fall below the second-quarter level. California Micro cited order cancellations for the shortfall.