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."
