Siliconix Inc., Santa Clara, Calif., an 80.4% subsidiary of Vishay Intertechnology, Inc. on Tuesday cut its forecast for fourth quarter sales and earnings.
"Bookings for the fourth quarter have continued to be soft due to customers' inventory adjustments caused by slowing in thepersonal computer market and cell phone handset market," the company said.
As a result Siliconix's fourth quarter 2000 sales will be 10%-15% lower than the $127,000,000 record high shipments of the third quarter of year 2000. Shipments for the fourth
quarter of 1999 were $110,000,000.
Earnings per share for the fourth quarter 2000 will be 15-25% lower than the 98 cents earnings per share reported for the third quarter of 2000. Earnings per share were $0.82 in the fourth quarter of 1999.
Dr. King Owyang, Siliconix President and CEO stated, "Although the business still continues to be slow, we are optimistic heading into year 2001. We expect inventory adjustments to be over by late Q1'01. The forecasted growth for the cell phone handset market is between 30-40% next year."