Spansion Q3 Loss Narrows

(RTTNews) - Spansion Inc. (CODE) reported a net loss for the third quarter of $10.8 million or $0.18 per share, compared to a net loss of $36.9 million or $0.63 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was $17.9 million or $0.27 per share.

Revenue for the third quarter rose 14.9% to $315.93 million from $273.38 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.27 per share on revenue of $325.04 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, Spansion forecasts net sales of $290 million to $325 million, earnings per share of $0.37 to $0.40 and adjusted earnings per share of $0.26 to $0.33. Analysts currently expect the company to earn $0.36 per share on revenue of $336.70 million for the fourth quarter.