Programmable chip maker Actel Corp. (ACTL) on Thursday lowered its revenue and gross margin outlook for the second quarter, citing lower-than-anticipated shipments of radiation-tolerant devices to the satellite market.
The Mountain View, California-based company said it now expects second quarter revenue to decline 5% to 9% sequentially, compared to its prior guidance of a 1% to 7% decline. Based on the company's first quarter revenue of $48.5 million, the latest guidance of 5% to 9% decline implies second quarter revenue of $44.1 million to $46.1 million.
The company said it now gross margin for the second quarter to be about 57% or 58%, compared to its prior guidance of 59%.
Although bookings have been strong to date, the turns component of bookings has been below expectations, Actel noted.
Actel shares closed Thursday's regular trading session at $11.43, up 26 cents or 2.33%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.