Newport Beach networking chipmaker Mindspeed Technologies Inc. on Tuesday lowered its outlook for the recently ended quarter, sending its shares down 6% on the news.
The company said it expects revenue growth of about 2% from the December quarter, in which it saw sales of $30 million. Earlier, it forecast 7% to 13% sequential growth.
Mindspeed blamed the slower growth on weak demand for its analog chips and a tapering off of sales to a customer undergoing a buyout. It didn’t name the customer.
The company’s analog chips transmit voice and data services across wired and wireless networks.
In the December quarter, Mindspeed reported a loss of $11.3 million. Sales in the quarter were down on product shipment delays due to a late December earthquake in Taiwan, which affected Mindspeed’s factory in the Philippines.
This is the second consecutive quarter the company has lowered guidance. Mindspeed is set to report second quarter results April 23.
