Sawtek Lowers Second-Quarter Guidance

Sawtek

(SAWS)

warned today that its second-quarter earnings and revenue will be lower than previously projected, citing a slowdown in the wireless communications sector and low order flow and backlog.

For the second quarter ending March 31, Sawtek expects earnings of 22 cents to 24 cents a share. On Jan. 25, the company said it expected to

report flat earnings compared with the year-ago period at 29 cents a share. Nine analysts surveyed by

First Call/Thomson Financial

currently estimate the company will earn 29 cents a share, down from the original consensus of 43 cents a share.

The company projected second-quarter revenue of $29 million to $31 million, down from its earlier estimates of roughly $37.6 million. For the 2001 first quarter, Sawtek reported earnings that beat Wall Street's raised expectations by 4 cents.

Shares of Sawtek, which makes electronic signal processing components, closed

Nasdaq

regular trading at $17.06, up 50 cents on the day, but slid to $14.44 in after-hours

Island

action. The company also believes revenue and earnings for the year will be below previous estimates.