John Daane
John Daane
channels decline demand modified quarter revenue second sharper
In our international channels we are experiencing a sharper decline in demand than we had forecasted and therefore, we have modified our second quarter revenue guidance.
began correction fourth impact inventory market reduced
An industry-wide inventory correction began in the fourth quarter, and now reduced end market consumption is exacerbating the impact of that correction.
business cautious continue current difficult environment execute requires
As we continue to execute on our business strategy, the current business environment requires us to be cautious and make some pragmatic, yet difficult decisions.
activity believe business capital customers effects growth hence impact inventory market moderate providers reduced resume revenue second seeing service spending
We are seeing the effects of reduced capital spending by service providers and other communications market end customers impact our customers' business and hence their purchases. The slowdown in end market activity is prolonging the inventory correction, but we believe that moderate sequential revenue growth will resume in the second half.