Spansion Revises Q2 Outlook - Quick Facts

(RTTNews) - Spansion Inc. (CODE) announced 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. The company expects GAAP loss per share of approximately $0.05 to $0.07 for the second quarter.

Spansion now expects its second-quarter non-GAAP earnings per share of approximately $0.25 to $0.27. Spansion's prior estimate was for non-GAAP earnings per share in the range of $0.16 to $0.23.

The company noted that its earnings per share expectations include two one-time items related to foreign exchange and taxes that add approximately $0.10 to earnings per share.

Analysts polled by Thomson Reuters expect the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.

Spansion currently expects second-quarter revenue to range between $193 million and $197 million. The company's prior estimate for the second quarter was for revenue to range between $200 million and $220 million. Analysts expect revenue of $210.78 million for the quarter.