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Components | February 07, 2012

Atmel slashes 4Q revenue forecast

Atmel Corporation expects 2011 fourth quarter revenues to be approximately $384 million, down 20% sequentially from the third quarter of 2011.
The company's previous guidance indicated that revenue would decline sequentially in the range of 12% to 16% (or $403 million to $422 million). Q4 revenue was negatively affected by approximately $11 million as a result of rescheduling payments on a receivable related to an Asian distributor.

"As we progressed through our year end closing process, we expected fourth quarter revenues of about $395 million, slightly below the previously announced range," said Stephen Cumming, Atmel's Chief Financial Officer. "At the lower revenue number of $384 million, which reflects the rescheduled payments, gross margin is expected to remain within previously announced guidance (48% +/- 0.5%)."

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