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Components | September 27, 2011

Freescale updates 3Q outlook

Freescale Semiconductor lowered its guidance for the third quarter ending September 30, 2011.
Based on current estimates, the company now expects:

- Net sales to decline 6% to 8% sequentially. This compares to the initial guidance of flat to down 3% sequentially. The sales decline is attributable primarily to weakness in the company’s industrial and networking businesses;

- Gross margins to show modest sequential improvement despite the sequential decline in sales.

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