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. (MM) (GSIT)
Quote : 8.06  -0.03 (-0.37%) @ 1:11PM

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

Gsi Technology, Inc. (MM) (NASDAQ:GSIT)
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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; mia.lamar@dowjones.com 



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