IXYS Corp. gives lower guidance for second quarter
IXYS Corp. (Nasdaq: IXYS) after the close issued downward guidance for the current quarter ending this month.
IXYS said it now expects net revenues for the three months ending June 30, 2007, to be between $70 and $72 million. IXYS had originally anticipated net revenues would be approximately flat as compared with revenues of $74 million for the first quarter ended March 31, 2007.
Analysts were expecting revenues for the latest period of $75 million.
IXYS, which historically has not provided guidance for gross margins, expects gross margins to clock in between 27% and 30% for the second quarter. Gross margins for the first quarter were 24.1%.
"It is not our practice to revise our guidance unless we expect a material change from our previous guidance; nor is it our practice to issue guidance on gross margins," said Uzi Sasson, IXYS COO and CFO. "We do not plan to issue guidance on gross margins in the future."
Shares of IXYS were down 5.74% or $0.56 to $9.20 in after-hours trading Monday.
IXYS Corporation designs, develops, manufactures, and markets power semiconductors, radio frequency power transistors and systems, and digital and analog integrated circuits.
