Monday, September 26, 2011

Freescale Chops Sales Forecast

Austin-based Freescale Semiconductor said this morning that it is seeing weakness in its industrial and networking business, and as a result is predicting a 6% to 8% sales decline in its third quarter. The worse quarter compares to an initial guidance of flat to down 3% sequentially. Freescale did not provide any commentary on the reason for the weakness, but did say it would discuss the results in its quarterly conference call.