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Spansion Q2 Beats Street on Stronger Consumer Sector

July 15, 2008
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

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.

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