ChipPAC Sees Badly Missing Fourth-Quarter Expectations
ChipPAC
(CHPC)
expects to badly miss estimates for the fourth quarter, as the period has been hurt by short-term weakness in the wireless and computing end-markets.
The semiconductor test and packaging services company, which is based in Santa Clara, Calif., expects fourth quarter net income of 3 cents a share on revenue of $128 million, compared with revenue of $107.9 million in the fourth quarter a year ago. Analysts expect the company to earn 18 cents a share for the quarter, according to
First Call/Thomson Financial
.
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The company said revenue growth for fiscal 2000 will exceed 30%. The company had revenue of $375.5 million in 1999.
Separately, ChipPAC said it is acquiring
VIKO Test Labs
, a division of
VIKO Technology
, for an unspecified amount of cash and stock.
