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UPDATE 1-SiRF sees Q1 results to meet or exceed market views

Tue Jan 30, 2007 7:25pm EST

Jan 30 (Reuters) - SiRF Technology Holdings Inc. SIRF.O, which makes chipsets for global positioning systems, forecast first-quarter results to meet or exceed market expectations, sending its share up about 17 percent in after-market trade.

SiRF expects earnings of 20 cents to 23 cents a share on revenue of $65 million to $68 million for the quarter. Analysts on average are expecting earnings of 20 cents a share on revenue of $65 million, according to Reuters Estimates.

Revenue would be $320 million to $330 million for 2007, Chief Executive Michael Canning said in a conference call. Analysts' consensus view is for $305.4 million.

In 2007, the company said it sees increased demand in GPS technology and cellular wireless market, especially in the second half of the year.

SiRF expects increased R&D expenditure during the year due to development expense on new products.

The company's shares rose to $27.90 in late electronic trade after closing regular trading at $23.88 on the Nasdaq. (Reporting by Vivek Seal in Bangalore)



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