Volterra Lowers Q2 Guidance Due To “Process Defect”

Volterra Semiconductor (VLTR), which makes analog and mixed-signal power management semiconductors, said revenue for its second quarter will be lower than previously forecast. It sees $18.5 million to $19.5 million in revenue, and a non-GAAP loss of 4-7 cents a share.

The company said that due to “a process defect with one of the company’s vendors,” it has had to recall $2 million to $3 million of product, resulting in a second quarter charge of $3 million to $4 million.

Volterra said it has identified the source of the defect and has worked with its vendor to replicate and correct the defective process. The company says it has worked with affected customers to initiate the recall and “to minimize any interruption to their business and to minimize any financial impact to them as a result of this issue.”

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