SAN FRANCISCOActel Corp. Tuesday (April 28) said first quarter sales declined and the company forecast they would decline further in the second quarter.
Actel posted first quarter revenue of $48.5 million, down 8 percent compared to the previous quarter and 12 percent compared to the same period of 2008, the company said.
Actel (Mountain View, Calif.) narrowed its quarterly loss to $3 million, based on generally accepted accounting principles (GAAP), compared with a GAAP net loss of $12.5 million in the fourth quarter of 2008, the company said. Actel reported a GAAP net income of $200,000 during the first quarter of 2008.
Actel said it expects revenue for the second quarter to be down another 1 to 7 percent sequentially. Gross margin is expected to be about 59 percent, Actel said.
Non-GAAP net income, which excludes stock-based compensation and restructuring and other expenses, was $800,000 for the first quarter, Actel said, compared with $2.9 million for the first quarter of 2008 and $3.3 million for the fourth quarter of 2008.