Actel cuts 3rd-quarter sales outlook

Actel Corp., which makes programmable chips, on Wednesday lowered third-quarter guidance due to weakness in the consumer market in Asia.

The company now expects revenue to fall 7 percent to 9 percent in the third quarter sequentially, compared with earlier expectations of a 3 percent decline to 1 percent rise.

The new guidance implies third-quarter sales of $53.6 million to $52.5 million. In the second quarter, sales totaled $57.6 million.

The reduction is due to weakness in the Asian consumer market, the company said.

Shares fell 57 cents, or 5 percent, to $10.74 during aftermarket trading after closing at $11.31.