LONDON – Freescale Semiconductor Inc. has lowered its financial guidance for the third quarter of 2011 ending Sept. 30.
Freescale (Austin, Texas) now sees a net sequential decline of between 6 and 8 percent for the third quarter. This compares to previous guidance of flat to 3 percent decline sequentially. Freescale had sales of $1.22 billion in the second quarter.
As the third quarter is normally the boom season in the semiconductor sector such a decline is unusual. Freescale attributed the sales decline to weakness in the company's industrial and networking businesses.