ATML Stock Halted, But Reopens After Revenue Miss

Atmel Corporation (ATML) stock was halted tonight but recently reopened for trading after a revenue warning. Atmel Corporation (ATML) is currently trading at $9.40, down from the $10.10 close on Thursday.
 

Atmel Reports Preliminary 2011 Fourth Quarter Revenues
 

Atmel® Corporation (Nasdaq: ATML), a leader in microcontroller and touch solutions, today announced that it expects 2011 fourth quarter revenues to be approximately $384 million, down 20% sequentially from the third quarter of 2011. The company's previous guidance indicated that revenue would decline sequentially in the range of 12% to 16% (or $403 million to $422 million). Q4 revenue was negatively affected by approximately $11 million as a result of rescheduling payments on a receivable related to an Asian distributor.
 

"As we progressed through our year end closing process, we expected fourth quarter revenues of about $395 million, slightly below the previously announced range," said Stephen C******, Atmel's Chief Financial Officer. "At the lower revenue number of $384 million, which reflects the rescheduled payments, gross margin is expected to remain within previously announced guidance (48% +/- 0.5%)."