Spansion Q1 Loss Widens - Quick Facts

(RTTNews) - Spansion Inc. (CODE) Tuesday said first-quarter loss widened to $22.5 million or $0.38 per share from $14.4 million or $0.25 per share in the same period last year.

Adjusted earnings for the quarter were $11.6 or $0.18 per share. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.18 per shaer for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 64 percent to $311.8 million from $189.6 million last year. Analysts expected revenues of $307.37 million.

Looking ahead to the second quarter, the company currently projects a loss ranging between $0.16 and $0.09 per share, with adjusted earnings in the order of $0.21 to $0.27 per share.

Sales are expected to be in the range of $315 million to $340 million. Analysts currently expect the company to earn $0.29 per share on second-quarter revenues of $0.29 per share.