Microsemi (MSCC) was up 2.7% in active preopen Instinet trading after the semiconductor manufacturer raised the upper limit of its forecast for fourth-quarter revenue to $62 million from $61 million.
The company kept the lower limit of its forecast at $57 million. Microsemi attributed the increase to expanded markets as a result of the mid-quarter acquisitions of Compensated Devices and New England Semiconductor and other efforts to improve gross margins.
The company said the acquisitions will have a greater effect on revenue in the future.
Analysts' expect the company to post earnings of 17 cents a share for the current quarter on revenue of $59.3 million, and 65 cents a share for fiscal 2001 on revenue of $245.6 million, according to Thomson Financial/First Call.