Cirrus Logic Inc Fremont, California, warns that because of slower than expected order rates, turnover for the fourth fiscal quarter is expected to be lower than the preceding quarter and it expects to see a net loss. It says because it became aware of these developments after it filed its third quarter results, but before the filing of the Form 10-Q for the third quarter, generally accepted accounting principles require it to reflect the revised results for the quarter – hence the restated figures in today’s issue. It also says that it suffered a sharp drop in demand for its PicoPower Pentium VL-Bus core logic products, and a further drop in demand for its v.32bis modems.
