, a maker of memory chips and network storage equipment, reaffirmed its third-quarter revenue forecast, citing the strength of its semiconductor components business.
"Our semiconductor components businesses -- Consumer, Storage Components and Communications -- are driving the company's 10% third-quarter growth projection," the company said in a press release. "We are on track to return to pro forma profitability in the fourth quarter."
The Milpitas, Calif.-based company said it expects sales for the quarter to grow about 10% on a sequential basis, up from $438 million in the second quarter. LSI also said it expects to post a pro forma loss of 2 cents a share, which would be in line with analysts' expectations. The company's gross margin for the third quarter is targeted at 39%.
The shares were down a penny at $6.95 in premarket trading on Instinet.