Dallas, Texas–Dallas Semiconductor Corp. has announced that it expects sales for the fourth quarter (4Q) ending December 31, 2000, to be down 5% to 7% sequentially. Third quarter sales were $139.5 million.
“It appears that overbuying primarily by our distribution and contract manufacturing customers in earlier quarters has resulted in lower turns orders, order cancellations, and rescheduling during 4Q,” explains Dr. Chao C. Mai, president and chief operating officer.
Alan Hale, chief financial officer, adds, “Lower expected sales will also affect earnings per share which are now estimated to be $0.34 to $0.37 compared to $0.42 in the preceding quarter and $0.31 for 4Q of last year.”
Dr. Mai concludes, “2000 will be an excellent year with projected annual sales and earnings growth in excess of 30%; nevertheless, we are disappointed by the 4Q.”