RDA Microelectronics Lowers Q3 Revenue Forecast

(RTTNews) - RDA Microelectronics (RDA) said it is lowering its revenue forecast for the third quarter, citing currency volatility in certain emerging markets, including India, which led to a reduction in orders from customers who typically export to these emerging markets.

For the third quarter ended September 30, 2013, the Company currently expects revenue to be in the range of $84 million - $85 million, lower than the bottom range of its previous guidance of $105 million - $115 million. Analysts polled by Thomson Reuters expect the company to generate revenues of $106.79 million.

However, the Company still expects gross margin for the quarter to be about 32.6 percent, consistent with its previous guidance.