Spansion (CODE -25.7%) crashes after reporting Q3 revenue of $258.2M (-16% Y/Y) and EPS of...

|By:, SA News Editor

Spansion (CODE -25.7%) crashes after reporting Q3 revenue of $258.2M (-16% Y/Y) and EPS of $0.48, missing consensus by $2.6M and $0.08. Moreover, Spansion, which operates in the slow-growing NOR flash memory market, expects Q4 sales of $205M-$225M and EPS of -$0.17 to -$0.07, far below a consensus of $264.3M and $0.40.