Exar Corporation Revises Revenue and Non-GAAP Gross Margin Outlook for Fiscal 2012 Third Quarter; Sees Adj Gross Margin 48-50%

Exar Corporation EXAR today announced a revision to its fiscal 2012 third quarter revenue and non-GAAP gross margin guidance. The Company currently expects revenue for the fiscal third quarter to be between $28 million and $30 million and non-GAAP gross margin to be between 48% and 50%. "The revenue outlook across all product lines has fallen below the original forecasted range due to weaker economic conditions in Asia and Europe and continued inventory corrections," commented Kevin Bauer, the Company's senior vice president and chief financial officer.