EmailCavium Networks (CAVM $26.96- 4.25) expects to see third quarter
revenue decline -4% to -6% quarter/quarter to approx. $67.3 million to $68.7
million versus the $73.45 mln Capital IQ Consensus Estimate.
The company expects that non-GAAP gross margins and non-GAAP operating expenses
in the third quarter will be consistent with previous guidance.
"Customer revenues have been weaker than expected this quarter, in the
enterprise market as well as recognized software services revenue. Sales into
the enterprise market were affected by a much larger than expected impact of a
hub transition at one of our major customers as well as lower demand from other
enterprise customers as they adjust their supply chain inventory due to the
softer demand environment. However, we continue to experience high levels of
design win activity across multiple product families and are confident that we
are well positioned for the future."
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