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Customer collapse for fibre-optic networking biz

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Applied Micro Circuits, which makes chips for fibre-optic networking kit, has slashed its Q1 sales forecasts by 53 per cent.

The company now expects to make a loss. Customer's are cancelling orders and not making fresh ones.

Sales will be between $40 million and $45 million for the quarter. In April, chief exec David Rickey said sales would be $70 million to $85 million and the company would turn a profit.

AMC's customers include Nortel and Cisco, which explains a lot. ®

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