Spansion Q4 Results Miss Estimates; Sees Q1 Below Consensus - InvestingChannel

Spansion Q4 Results Miss Estimates; Sees Q1 Below Consensus

Spansion Inc. (CODE: Quote) reported net income for the fourth quarter of $6.9 million or $0.11 per share, compared to a net loss of $74.4 million or $1.25 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $21.8 million or $0.34 per share, compared to an adjusted net loss of $40.7 million or $0.68 per share in the prior year quarter.

Net sales for the fourth quarter rose to $224.0 million from $220.0 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.36 per share on revenue of $234.4 million for the fourth quarter. Analysts’ estimates typically exclude special items.

Looking forward to the first quarter, the company forecast net sales of $180 million to $205 million and a loss of $0.33 to $0.22 per share. First quarter adjusted results are expected to range between a loss of $0.05 per share to a profit of $0.06 per share.

Analysts currently expect the company to earn $0.27 per share on revenue of $225.84 million for the first quarter.

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by RTT Staff Writer

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