Microsemi Raises Revenue Outlook, Cites Acquisitions
Microsemi Corp. (Irvine, CA) raised the upper end of its forecasted range for fiscal fourth-quarter revenue slightly to $62.0 million from $61.0 million, partly due to acquisitions.
The company, which kept the lower end of its revenue forecast unchanged at $57.0 million, said the mid-quarter acquisition of Compensated Devices Inc. and New England Semiconductor Corp. strengthened its position in the military, space and medical markets. The company said other efforts to improve gross margins also allowed it to lift its revenue forecast.
Microsemi said it expects the acquisitions to have a greater impact on revenue in future quarters.