Dallas Semiconductor Expects Q4 Earnings Decrease
Dallas Semiconductor Corp. (Dallas, TX) reports that it expects fourth quarter earnings per share to decrease between five cents and eight cents per share from the third quarter. The company claims that this is primarily a result of a decline in sales.
Dallas Semiconductor stated that sales for the fourth quarter would be down between five and seven percent from the third quarter because of over-ordering in previous quarters that resulted in cancellations and rescheduling for the company's products during the fourth quarter.
Dallas Semiconductor said it now expects to earn between 34 and 37 cents per share in the fourth quarter, compared with 31 cents per share in the same period last year. The company earned 42 cents per share in the third quarter of 2000.
“2000 will be an excellent year with projected annual sales and earnings in excess of 30 percent," said president and CEO Chao Mai. “Nevertheless, we are disappointed by the fourth quarter."