GSI Technology Estimates 3Q Revenue To Top High End Of Target

Date : 01/10/2012 @ 7:30AM
Source : Dow Jones News
Stock : Gsi Technology, Inc. (GSIT)
Quote : 8.47  0.31 (3.80%) @ 5:54PM

GSI Technology Estimates 3Q Revenue To Top High End Of Target

Gsi Technology, Inc. (NASDAQ:GSIT)
Historical Stock Chart

5 Years : From Jan 2013 to Jan 2018

Click Here for more Gsi Technology, Inc. Charts.

GSI Technology Inc. (GSIT) estimated its fiscal third-quarter revenue will exceed its forecast and said it sees sales to its largest customer, Cisco Systems Inc. (CSCO), increasing from the preceding quarter.

The maker of static random access memory products predicted revenue for the quarter ended Dec. 31 to come in above the $18.2 million to $19.2 million range targeted in October.

The company also estimated direct and indirect sales to Cisco at roughly $9.7 million in the third quarter, compared with $7.9 million in the second quarter and $9.8 million a year earlier.

GSI expects to report complete results for the third quarter later this month. The company in October reported its second-quarter profit dropped 68% from a year earlier after it recorded lower sales to Cisco and weaker demand from customers in Asia.

Shares closed Monday at $13.31 and were inactive in premarket trade. The stock is down 10% in the past three months.

   -By Mia Lamar, Dow Jones Newswires; 212-416-3207; 

Latest GSIT Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.