Chip designer Actel sees better-than-expected 1Q revenue

Actel sees better-than-expected 1Q revenue

MOUNTAIN VIEW, Calif. — Actel Corp. said Tuesday that it expects more revenue in the first quarter than it previously forecast.

The chip designer said quarterly revenue would be up 4 percent to 8 percent from the previous quarter, which translates to a range of $51.7 million to $53.7 million. The company’s previous estimate was for a 2 percent to 6 percent increase.

Analysts polled by Thomson Reuters were expecting, on average, $52 million.

Gross profit margin is expected to be 62 percent of revenue, which is in line with the previous forecast.

The stock slipped 2 cents, or 0.2 percent, to $13.91, in extended trading, following the announcement. It had gained a penny to finish the regular trading session at $13.93.