California Micro Devices
expects to miss Wall Street's third-quarter earnings expectations by 10% to 20% because of order cancellations and delays in the personal computer, networking and telecom industries.
Two analysts polled by
First Call/Thomson Financial
are calling for California Micro to earn 14 cents a share, a significant increase from the 4 cents a share the company earned in the year-ago period. California Micro expects third-quarter revenue to fall 8% to 10% from the second quarter, which would translate to a range of $14.49 million to $14.81 million. The company had revenue of $11.7 million in the same period last year.
The company, a maker of filtering components and electronic circuitry, said it's too early to make any predictions for the fourth quarter.
Shares of California Micro, which is based in Milpitas, Calif., ended at $7.44 during the
regular session, but fell to $6.13 in after-hours