Silicon Storage raises 3Q forecast
Silicon Storage raises 3rd-quarter earnings, revenue estimates as sales improve
- On 8:09 am EDT, Tuesday September 29, 2009
SUNNYVALE, Calif. (AP) -- Silicon Storage Technology Inc., which makes flash-memory cards, raised its third-quarter earnings and revenue forecast on Tuesday, helped by improving sales and lower-than-expected costs.
The company said it now expects revenue between $69 million and $71 million, up from an estimate of $61 million to $68 million issued in July. It said earnings should now range from break-even to 3 cents per share, instead of a net loss of 7 cents to 3 cents per share.
Silicon Storage shares gained as much as 12 percent in premarket trading. Its shares recently changed hands at $2.66, up 16 cents, or 6.4 percent.
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