MANHASSET, N.Y. Applied Micro Circuits Corp. (San Diego) said Thursday (Sept. 23) it expects revenue for the September 2004 quarter to range from $61 million to $62 million, a 9 percent sequential decline from the previous quarter's revenue of $67.4 million.
"We believe that the revenue decline is due to two primary factors," said Tom Tullie, chief operating officer of Applied Micro Circuits, in a statement. "First, we've experienced lower-than-expected orders from several of our key customers who are adjusting their own inventories. Secondly, we've seen some softness in our Asia revenue primarily due to reduced demand in China's end markets."
Numerous semiconductor suppliers have lowered their current quarter guidance in recent weeks. In turn, market research firms such as Princeton Tech Research continue to downgrade near-term market forecasts.