"PMCS today announced it is lowering its revenue outlook for the third quarter of 2004. Revenues are now expected to be $71 million to $73 million compared with reported second quarter revenues of $85.7 million. The Company's previous outlook was for third quarter revenues to be in the range of $86 million to $92 million, or flat to up 7%. Based on the revised outlook for the third quarter of 2004, revenues for the nine months ending September 30, 2004 are expected to be 32% to 33% higher than revenues for the same nine-month period in 2003.
The revision in revenue outlook for the third quarter of 2004 is primarily attributable to changes in customer demand and inventory levels associated with recent reductions in the planned deployment rates of DSL equipment by Asian service providers for the second half of 2004. Also, generally improved availability of semiconductor components is causing a reduction in semiconductor orders below the consumption rates available in end markets served."
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