UPDATE 1-Sequans Q4 beats, forecasts weak Q1

jeudi 9 février 2012 12h30
 

* Sees Q1 adj loss $0.27-$0.29/ADS vs est loss $0.18/ADS

* Sees Q1 rev $4-$5 mln vs est $8.64 mln

* Q4 adj loss $0.12 /ADS vs est loss $0.17/ADS

* Q4 rev $11.5 mln vs est $11.1 mln

Feb 9 (Reuters) - Sequans Communications' quarterly results beat muted Wall Street expectation and the French chipmaker forecast a weak first quarter hurt by lower sales to its major customer HTC Corp

Sequans, which supplies WiMAX and Long Term Evolution chips to equipment manufacturers, projected first-quarter loss of 27 cents to 29 cents per American Depository Shares (ADS), on an adjusted basis, on revenue of $4 million to $5 million.

Analysts were expecting a loss of 18 cents per ADS on revenue of $8.64 million, according to Thomson Reuters I/B/E/S.

Sequans gets over 80 percent of its revenue from HTC that sells most its WiMAX phones through mobile service provider Sprint Nextel.

In December, Sequans said it would not recognise any revenue from its largest customer for WiMAX chips in the first quarter as the customer was facing lower demand for WiMAX phones, and cut its fourth-quarter outlook.   Suite...