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Spansion lowers Q2 2013 expectations

Spansion Inc. estimates that based upon its preliminary financial results, revenue for the second quarter 2013 will be below the Company's previous estimate, due primarily to market softness, particularly in Japan.
Spansion currently expects second quarter revenue to range between $193 million and $197 million. The Company's previous estimate for the second quarter was for revenue to range between $200 million and $220 million.

The Company expects GAAP diluted net income per share for the second quarter of approximately ($0.05) to ($0.07) and non-GAAP earnings per share of approximately $0.25 to $0.27. Included in these earnings per share expectations are two one-time items related to foreign exchange and taxes that add approximately $0.10 to earnings per share. Spansion's previous estimate was for non-GAAP diluted earnings per share in the range of $0.16 to $0.23.


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