Flash-memory chipmaker Spansion (SPSN) lifted its revenue guidance for the current quarter after Tuesday's market close, amid strong global demand for cell phones.
The Sunnyvale, Calif., company said revenue in its second quarter will range between $605 million and $635 million, compared with its previous range of $590 million to $620 million, sending the company's shares up 3.4%, or 48 cents, to $14.73 in extended trading.
Analysts polled by Thomson First Call expect Spansion to generate $600 million in sales for the quarter ending June 30, with a loss of 36 cents a share.
Spansion didn't provide any EPS estimates in its update or its initial guidance, but the company said in April that it is well positioned to reach profitability in the second half of the year.
Spansion, which was spun off from
Advanced Micro Devices
in December, makes a type of flash memory known as NOR, which is not growing nearly as fast the NAND flash variety used in devices like
Spansion said Tuesday that strong worldwide demand in the cell-phone, consumer and industrial markets was the reason for the company's stronger-than-expected sales in the current quarter.
Shares of Spansion finished Tuesday's regular trading session up 1.2%, or 17 cents, at $14.25.