Courtesy of Benzinga.
Freescale Semiconductor (NYSE: FSL) today provided an update for the third quarter ending September 30, 2011.
Based on current estimates, the company now expects:
Net sales to decline 6% to 8% sequentially. This compares to the initial guidance of flat to down 3% sequentially. The sales decline is attributable primarily to weakness in the company’s industrial and networking businesses;
Gross margins to show modest sequential improvement despite the sequential decline in sales.
