Mindspeed updates 2Q fiscal outlook

Management's prior outlook was for total net product revenue to be approximately flat to up or down 2% versus total net product revenue in the fiscal first quarter of 2013 of $38.4 million. The revenue shortfall is primarily attributed to slower than expected deployments of 3G small cell base stations, with wireless infrastructure revenue expected to be approximately $2.6 to $2.7 million in the fiscal second quarter of 2013. Revenue from 4G/LTE small cell base stations, however, is expected to approximately double in the fiscal second quarter of 2013 versus the prior quarter. For the fiscal second quarter of 2013, Mindspeed continues to forecast its non-GAAP gross margin to be approximately 60-61 percent and non-GAAP operating expenses to be approximately $22 million. Based on early indications, Mindspeed anticipates total net product revenue for the fiscal third quarter of 2013 will be approximately flat versus the fiscal second quarter of 2013. Management also forecasts wireless infrastructure revenue will be approximately flat in the third quarter of fiscal 2013 versus the second quarter of fiscal 2013.