Reuters logo
7 years ago
UPDATE 1-Supertex cuts Q2 revenue view as LED driver sales dip
October 15, 2010 / 9:10 PM / 7 years ago

UPDATE 1-Supertex cuts Q2 revenue view as LED driver sales dip

2 Min Read

* Cuts Q2 rev view to $22-$22.5 mln from $25-$25.5 mln

* Says decline in sales temporary

* Sees rebound in upcoming holiday season

* Shares down 6 pct after market

Oct 15 (Reuters) - Supertex Inc SUPX.O, a maker of low power chips for electronic devices, said it cut second-quarter revenue outlook, hurt by lower sales of its LED drivers, but said the decline was temporary.

Supertex now expects second-quarter revenue of $22-$22.5 million, down from its previous forecast of $25-$25.5 million.

The decline in sales was partly due to the slowdown in LED TV sales, which resulted in suspension of shipments in late September.

However, the company said the decline in LED driver sales for LCD TV backlighting was temporary and will see a rebound in the coming holiday season.

Shares of the Sunnyvale, California-based company were down 6 percent at $21 in trading after the bell. They closed at $22.43 Friday on Nasdaq. The stock has fallen more than 29 percent since touching a year high in May. (Reporting by Megha Mandavia in Bangalore; Editing by Jarshad Kakkrakandy)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below