- Microsemi (MSCC -4.5%) shares are recovering after plunging as much as 16.3% at the open on the company's in-line FQ4 but weaker-than-expected FQ1 guidance.
- On the conference call, CFO John Hohener forecast a 3%-5% sequential revenue decline in FQ1, implying revenue of $238.5M-$243.1M (well below consensus expectations of $258.2M). The guidance, however, excludes effects from the $230M Symmetricom acquisition in Oct.
- Gross margin is seen falling to 55.8%-56.6% in FQ1 from 57% in FQ4.
- When asked whether Microsemi is still targeting organic growth rates in the mid- to high-single digit range on a long-term basis, CEO James Peterson responded, "Absolutely, my friend."
From other sites
at CNBC.com (Jan 5, 2015)
Video at CNBC.com (Jan 5, 2015)
at CNBC.com (Aug 8, 2014)
at CNBC.com (Aug 6, 2014)
at CNBC.com (Jan 10, 2011)
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