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SigmaTel Soars on Rosier Sales

It says sales are well above target.

SigmaTel (SGTL) shares jumped 24% after the company said second-quarter sales were about 17% above its previous target.

The consumer-electronics chipmaker says a preliminary sales tally for the quarter ended June 30 puts revenue in the range of $30 million to $31 million. The prior guidance called for about $26 million in revenue. Revenue for the year-ago quarter were $44 million.

SigmaTel has been working to restructure its business as competition heats up to supply chips for devices like


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"We attribute our higher than forecast revenue to sales improvement across the board and improved execution throughout the company," CEO Phil Pompa said in a press release. "We believe we have strong momentum going into the third quarter and are looking forward to sharing more good news during our second quarter conference call," he continued.

SigmaTel has not determined a date for release of its full second-quarter earnings report. Analysts had been looking for an adjusted loss of 33 cents a share, on $26.5 million in sales, according to Reuters Research.

SigmaTel shares were up 71 cents to $3.65 in pre-market trading Monday.