March 12, 2001–Santa Clara, California–Alliance Semiconductor Corp. has reduced its revenue guidance for the fiscal fourth quarter ending March 31, 2001, and now expects that fourth quarter revenues will be approximately 45% to 50% below the $63.8 million reported during the fiscal third quarter ended December 31, 2000.
“We continued to see weak demand and order cancellations during the current quarter for both DRAM and SRAM products due to the slowing economy and build-up in inventories at OEMs,” says Alliance Chairman, President, and CEO N.D. Reddy. “It’s difficult to predict future demand at this time, given the current market environment. As we indicated previously, we have taken steps, starting last quarter, to reduce inventories to meet current and expected future demand and have also taken steps to control expenditures.”
The fourth quarter and fiscal year 2001 earnings release is currently scheduled for April 26, 2001, after the market closes.