SHANGHAI, Sept. 29, 2011 (GLOBE NEWSWIRE) -- BCD Semiconductor Manufacturing Limited ("BCD Semiconductor") (Nasdaq:BCDS), a leading analog integrated device manufacturer, or IDM, specializing in the design, manufacture and sale of power management integrated circuits, or ICs, today updated its guidance for the third quarter of 2011.
The Company now expects its third quarter revenue to be approximately $39 million versus previous revenue guidance of $43 to $45 million. Gross margins are now expected to be approximately 27% versus previous guidance of 30%.
"The typical seasonal demand increase that we expected to see in the third quarter did not materialize this year," said Chieh Chang, Chief Executive Officer. "Demand from our Asia customers was soft in all three of our core end markets including computing, consumer and communications. Similar to many other analog semiconductor suppliers, we believe this is attributable to broad-based economic weakness."
"The change in our gross margin guidance is primarily due to a write-down of inventory in the third quarter that resulted from a decline in expected demand for some of our linear products," said JC Zhang, Chief Financial Officer.
BCD will discuss its third quarter 2011 financial results during its conference call following the market close on October 25th.
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, without limitation, estimated revenues and gross margins for the third quarter of 2011. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, the fact that our third quarter has not ended, we have not closed our financial books for the third quarter and our quarterly results are subject to review by our independent registered public accounting firm, any of which risks or uncertainties could result in adjustments to the estimates that we are providing in this press release. All information provided in this press release is as of today's date, unless otherwise stated, and BCD Semiconductor undertakes no duty to update such information, except as required under applicable law.
About BCD Semiconductor
BCD Semiconductor Manufacturing Limited ("BCD Semiconductor") is a leading analog integrated device manufacturer, or IDM, based in China, specializing in the design, manufacture and sale of power management integrated circuits, or ICs. Our broad portfolio of power management ICs primarily targets rapidly growing, high volume markets such as mobile phones, LCD televisions and monitors, personal computers, adapters and chargers and other electronics products. As an IDM, BCD Semiconductor integrates product design and process technology to optimize product performance and cost. We offer system-level solutions with the quality, performance and reliability required by our customers. Our China-based operations provide proximity to the rapidly growing electronics industry in Asia, enabling us to align our product development effort with customers and market trends and to provide timely and effective technical support. For more information, please visit http://www.bcdsemi.com.
CONTACT: Tom Krause Investor Relations IR@bcdsemi.com