California Micro Devices Affirms Quarter Guidance
California Micro Devices Corp. (Milpitas, CA) affirmed its prior guidance for the December quarter (fiscal third quarter) that revenue would be in the range of $7.0 to $7.5 million, and pro-forma net loss per share, before restructuring and other charges related to adopting a new manufacturing model, would be in the range of $0.38 to $0.40.
The company also projected a strengthened fiscal third-quarter balance sheet reflecting increased cash from its recent private equity placement as well as continued progress in its inventory reduction program. Including the proceeds from its $8.2 million private placement, reported on December 3, 2001, the company's cash balance at the end of fiscal third quarter totals approximately $10.6 million, up from the $4.5 million in the prior quarter.
"While our fiscal third-quarter revenue and EPS outlook are both down from the prior quarter, I'm pleased to confirm that our bookings, backlog and book-to-bill are running ahead of the prior quarter," said Robert Dickinson, president and CEO. "These leading indicators are encouraging and reflect a positive impact from both improving market conditions and our sharpened focus in marketing and sales."