Spansion Q2 Beats Street on Stronger Consumer Sector
Spansion (SPSN), maker of NOR Flash memory chips, posted second-quarter revenue of $613 million, ahead of the Street consensus of $580.73 million. The company lost 63 cents per share in the quarter, better than the loss of 75 cents that analysts had expected. In a statement, CEO Bertrand Cambou said that results were above the company’s expectations, “mainly driven by strong performance in the consumer segment.”
For Q3, the company sees sales “up slightly” from Q2; the Street had been looking for $623.4 million. Gross margin is expected to increase 1-to-2 percentage points sequentially.