Silicom Slips To Loss In Q2, Issues Q3 Outlook; Stock Down In Pre-market

(RTTNews) - (Adds Outlook)

Silicom Ltd. (SILC) reported Monday second-quarter loss of $1.516 million, compared to last year's profit of $3.806 million.

Loss per share was $0.25, compared to profit of $0.56 per share in the same period last year. Excluding items, Silicom's adjusted loss was $0.861 million or $0.14 loss per share for the period.

Revenue fell to $14.502 million from last year's $38.130 million. Outlook

Silicom further said that it projects its third-quarter revenue to be in the range of $14 million to $15 million, which reflects longer-than expected sales cycles, the prolonged excess inventory digestion periods of several large customers, and the global economic slowdown.

For the second half, the company expects revenues as a whole to be similar to those of the first-half.

SILC was trading down by 12.61 percent at $14.07 in the pre-market trade on the Nasdaq.