MPS lowers revenue guidance for 3Q

Based on the current demand outlook, the company expects its third quarter revenues to be in the range of USD 52-54 million. In its guidance from August 3, 2011, the company expected revenue to be in the range of USD 56-60 million. “The economy is slowing down considerably,” said Michael Hsing, chief executive officer and founder of MPS. “We are slowing down channel inventory to reflect the uncertain business climate.”