SAN JOSE, CA -- (Marketwire) -- 01/04/13 -- Pericom Semiconductor Corporation (NASDAQ: PSEM), a worldwide supplier of high-speed integrated circuits and frequency control products, today announced updated revenue guidance for the second quarter of fiscal 2013, which ended December 29, 2012.
Pericom now expects sales to be $29.0 to $30.0 million compared to previous guidance of $30.5 to $34.5 million. Guidance for gross margins and operating expenses remain unchanged.
"The demand environment has remained weak throughout the quarter, therefore we are updating our guidance on revenues," commented Alex Hui, President and CEO of Pericom. "We have seen continued softness in end user demand resulting from challenging macroeconomic conditions in both our domestic and international markets."
No conference call will be held in conjunction with this guidance update. Additional information will be available when the Company reports its second quarter 2013 results during the week of January 28, 2013.
Pericom Semiconductor Corporation (NASDAQ: PSEM) enables serial connectivity with the industry's most complete solutions for the computing, communications, consumer and embedded market segments. Pericom's analog, digital and mixed-signal integrated circuits, along with its frequency control products are essential in the timing, switching, bridging and conditioning of high-speed signals required by today's ever-increasing speed and bandwidth demanding applications. Company headquarters is in San Jose, California, with design centers and technical sales and support offices globally. More information may be found at our website, http://www.pericom.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined under The Securities Litigation Reform Act of 1995. Forward-looking statements in this release include the statements regarding the anticipated revenues, gross margin, and operating expenses in the second fiscal quarter of 2013, and a statement from our CEO regarding revenue weakness. The Company's actual results could differ materially from what is set forth in such forward-looking statements due to a variety of risk factors, including softness in demand for our products, price erosion for certain of our products, unexpected difficulties in developing new products, customer decisions to reduce inventory, economic or financial difficulties experienced by our customers, or technological and market changes. All forward-looking statements included in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and Pericom assumes no obligation to update any forward-looking statements. Parties receiving this release are encouraged to review our annual report on Form 10-K for the year ended June 30, 2012, our quarterly report on Form 10-Q for the quarter ended September 29, 2012, and in particular, the risk factors sections contained in those reports.
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