Pericom now expects sales to be $35.0 to $36.0 million compared to previous guidance of $38.0 to $41.5 million. Gross margins and operating expenses are not expected to differ significantly from the previous guidance.
"We are seeing greater slowdown of ordering due to distributor inventory reduction efforts than previously anticipated," commented Alex Hui, President and CEO of Pericom.
Pericom Semiconductor Corporation (
Safe Harbor Statement
This press release contains forward-looking statements as defined under The Securities Litigation Reform Act of 1995. Forward-looking statements in this release include the statements regarding the anticipated revenues, gross margin, and operating expenses in the first fiscal quarter of 2012, and a statement from our CEO regarding inventory reduction efforts. The Company's actual results could differ materially from what is set forth in such forward-looking statements due to a variety of risk factors, including softness in demand for our products, price erosion for certain of our products, unexpected difficulties in developing new products, customer decisions to reduce inventory, economic or financial difficulties experienced by our customers, or technological and market changes. All forward-looking statements included in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and Pericom assumes no obligation to update any forward-looking statements. Parties receiving this release are encouraged to review our annual report on Form 10-K for the year ended July 2, 2011, and in particular, the risk factors sections contained in that report.
Contact: Aaron Tachibana Pericom Semiconductor Tel: 408 435-0800 Email Contact