Integrated Silicon Solution Cuts Q4 Outlook

(RTTNews) - Integrated Silicon Solution Inc. (ISSI) Tuesday lowered its fourth-quarter financial outlook citing weak demand for its products in Asia.

"Revenue in our fiscal fourth quarter ended September 30 will be below our original expectations due to weakness in the communications and consumer markets in Asia, and wafer shortages from one of our flash foundries. Sales in our industrial and automotive end markets continued to perform well during the quarter," said Scott Howarth, ISSI's President and CEO.

The company now expects earnings of $0.10 to $0.14 per share and adjusted earnings of $0.19 to $0.23 per share, down from prior outlook of prior outlook of $0.15 to $0.19 per share and $0.25 to $0.29 per share, respectively. Analysts polled by Thomson Reuters currently expect earnings of $0.27 per share for the quarter. Analysts' estimates typically exclude one-time items.

The company now sees revenue to be about $84 million, down from prior guidance of $85 million to $89 million. Analysts currently see revenues of $86.98 million for the quarter.