General Semiconductor Posts Expected Second-Quarter Revenues
General Semiconductor Inc. (Melville, NY) expects its second-quarter revenues to be down 15 to 17 percent from $102.0 million in the first quarter of 2001. Earnings for the quarter are now expected to be about $0.01 to $0.03 per share. The company reports, however, that new product sales are continuing to grow, and investments in new product development are up 65 to 75 percent over 2000.
Chairman and CEO Ronald Ostertag commented, “The semiconductor business is a cyclical business and, like our peers, our revenues have been affected by the current market environment. We believe this slowdown to be temporary and are confident that our power management strategy will provide strong long-term growth for General Semiconductor.”