Spansion Q2 Loss Widens; Issues Q3 Outlook - Quick Facts

(RTTNews) - Spansion Inc. (CODE) Wednesday said second-quarter loss widened to $22.0 million or $0.20 per share from $3.2 million or $0.06 per share in the same period last year.

Adjusted earnings for the quarter were $15.6 or $0.24 per share, down from $15.7 million or $0.26 per share in the year-ago period. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 61.3% percent to $314.67 million from $195.07 million last year, while eight analysts expected revenues of $327.01 million.

Looking ahead to the third quarter, the company currently projects a loss ranging between $0.18 and $0.13 per share, adjusted earnings in the order of $0.22 to $0.30 per share and net sales in the range of $305 million to $345 million. Analysts currently expect the company to earn $0.25 per share on second-quarter revenues of $327.01 million.