-- We expect revenues for the fourth quarter to decrease sequentially in the mid single digit range. The decrease in revenue compared to the previous guidance of flat to down slightly is due to lower than expected "turns" orders, especially in North America. -- We anticipate that gross margin for the fourth quarter will be about 58%, which is unchanged from our previous guidance. -- We expect operating expenses to come in at approximately $25.2 million, which is unchanged from our previous guidance. -- We anticipate that other income will be about $1.0 million, which is unchanged from our previous guidance. -- We expect that the tax rate for the quarter will be approximately 25%, which is unchanged from our previous guidance. -- We anticipate that our share count will be about 25.7 million shares, which is unchanged from our previous guidance.The statements above are forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and should be read with the "Risk Factors" in Actel's most recent Form 1 0-Q. Actel's quarterly revenues and operating results are subject to a multitude of risks, including general economic conditions and a variety of risks specific to Actel or characteristic of the semiconductor industry, such as fluctuating demand, intense competition, rapid technological change and related intellectual property and international trade issues, wafer and other supply shortages, and booking and shipment uncertainties. These and the other Risk Factors make it difficult for Actel to accurately project quarterly revenues and operating results, and could cause actual results to differ materially from those projected in the forward-looking statements. Any failure to meet expectations could cause the price of Actel's stock to decline significantly.
No conference call will be held in conjunction with this business update. Actel's fourth quarter financial results will be released on January 31, 2006.
Editor's Note: The Actel name and logo are trademarks of Actel Corporation.
Contact: Jon Anderson Actel Corporation (650) 318-4445