SAN JOSE, Calif. — Conexant Systems Inc. Monday (April 6) announced that revenues for the second quarter of fiscal 2007 were $200 million, a sequential decline of 18.5 percent from the $245.5 million in revenues the company reported in the first quarter of fiscal 2007.
For the second fiscal quarter, the company expects to be approximately breakeven on a core operating basis.
"During the second fiscal quarter, in addition to anticipated seasonal weakness in our PC-related products, we saw greater-than-expected sequential revenue declines in our set-top box, multifunction peripheral, and DSL product lines," said Dwight W. Decker, Conexant's chairman and chief executive, in a statement.
"The decline in set-top box revenues was driven by program schedule delays with service providers in the U.S. and Europe, and by generally lower-than-anticipated demand," he said. ''Shipments of our multifunctional peripheral solutions, which go into 'all-in-one' printers with facsimile, scanning, and copying capabilities, were impacted by higher-than-expected inventories at key customers. In DSL, revenues declined as we experienced the first full quarter of previously reported above-average pricing pressure."