SOURCE: Actel Corporation

September 09, 2010 20:03 ET

Actel Corporation Confirms Third Quarter Guidance

MOUNTAIN VIEW, CA--(Marketwire - September 9, 2010) -  Actel Corporation (NASDAQ: ACTL) today announced that third quarter 2010 revenues are expected to be up 3 percent to 7 percent sequentially, which is unchanged from the previous guidance.

All other guidance also remains unchanged. Gross margin is expected to be about 65 percent; operating expense (excluding $2.3 million of stock based compensation, $0.2 million associated with the acquisition of Pigeon Point Systems and $1.7 million of restructuring charges) are expected to come in at approximately $25.5 million; other income is expected to be about $0.5 million; non-GAAP tax rate is expected to be about 30 percent; and fully diluted share count is expected to be about 26.3 million shares.

Forward-Looking Statements

The statements in the paragraphs above are forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and should be read with the "Risk Factors" in Actel's most recent Form 10-Q, which can be found on Actel's web site, www.actel.com. Actel's projected revenues and operating results for the third quarter of 2010 are subject to a multitude of risks, including general economic conditions and a variety of risks specific to Actel or characteristic of the semiconductor industry, such as a failure to fully realize the projected results of the restructuring plan, fluctuating demand, intense competition, rapid technological change and related intellectual property and international trade issues, wafer and other supply shortages, and booking and shipment uncertainties. These and the other Risk Factors make it difficult for Actel to accurately project quarterly revenues and operating results, and could cause actual results to differ materially from those projected in the forward-looking statements. Any failure to meet expectations could cause the price of Actel's stock to decline significantly. Actel undertakes no obligation to update any information contained in this press release.

About Actel

Actel is the leader in low-power FPGAs and mixed-signal FPGAs, offering the most comprehensive portfolio of system and power management solutions. Power Matters. Learn more at www.actel.com.

Actel, Actel Fusion, IGLOO, Libero, Pigeon Point, ProASIC, SmartFusion and the associated logos are trademarks or registered trademarks of Actel Corporation. All other trademarks and service marks are the property of their respective owners.

Contact Information

  • Investor Contact:
    Maurice Carson
    (650) 318-4700

    Media Contact:
    Anna del Rosario
    (650) 318-4500