SAN FRANCISCO Mixed-signal fabless chip vendor SigmaTel Inc. Wednesday (March 29) said it expects to report a larger net loss than previously expected for the first quarter. The company is not providing a specific net loss forecast at this time.
SigmaTel (Austin, Texas) said it now expects quarterly revenue to be in the range of $30 million to $35 million. The company had said in January that it expected first quarter revenue to be in the range of $52 million to $60 million.
SigmaTel blamed the lower expected income largely on the negative impact of non-cash deferred income taxes due to its international tax and intellectual property (IP) migration strategy. This negative impact could be approximately 50 cents per share, the company said.
SigmaTel cited other factors, including a slower-than-expected product transition by a major customer and slow market adoption of the company's STFM 1000. Declines in NAND flash memory prices, which the company believes caused OEMs to delay orders, was also cited as a factor.
Also Wednesday, SigmaTel announced several management changes. The company named Phil Pompa senior vice president of its portable systems group and appointed Steve Beatty to take Pompa's place as senior vice president of the integrated components group. Danny Mulligan was promoted to senior vice president of operations and technology and Jose Lau was promoted to senior vice president of Asia, SigmaTel said.