Brief: Spectra7 announces preliminary third quarter 2017 results

Spectra7 Microsystems

10/10/2017 13:00

Oct 10 (Reuters) - Spectra7 Microsystems Inc  SEV.TO  
    * Spectra7 announces preliminary third quarter 2017 results 
    * Spectra7 Microsystems Inc - expects to report revenues 
for quarter ended September 30, 2017 of approximately $2.0 
million 
    * Spectra7 Microsystems Inc - delayed shipments expected to 
impact Q3 results 
    * Spectra7 Microsystems Inc - expects to return to a normal 
shipping schedule in Q4 of 2017 
    * Spectra7 Microsystems Inc - encountered manufacturing 
delays, supply-side push outs late in quarter, impacting Q3 
revenue 
    * Spectra7 Microsystems- Q3 2017 operating expenditures 
for co, excluding non-cash items, are expected to increase by 
$0.3 million from prior quarter 
    * Spectra7 Microsystems says "production ramp issues and 
supply constraints left unfilled orders on books as quarter 
ended" 
    * Spectra7 Microsystems - in Q3 gross margin as percentage 
of revenues projected to fall in range of 55-58%, reflecting new 
product ramp-up costs in Q3 
 
Source text for Eikon:  ID:nMKWfLX25a  
Further company coverage:  SEV.TO  
 
 ((Bangalore.newsroom@thomsonreuters.com;;))