LSI Logic warns on Q4 revenue
Less than half previous estimates
More gloom and doom for US tech stocks came today in the shape of a profit warning from chip maker LSI Logic.
The company warns that Q4 earnings and revenue will be lower than expected due to low customer demand and inventory build up. Q4 revenue is expected to be just three to four per cent up on the $728 million of the last quarter, while an increase of at least ten per cent had been predicted by the company.
Q4 earnings are expected to be up from 33 cents a share in Q3 to 34 cents, despite a prediction that they would increase to at least 36 cents in the quarter. ®