Tuesday, September 30, 2008

Conexant Boosts Outlook

Newport Beach-based semiconductor maker Conexant Systems said Tuesday afternoon that it has boosted its earnings guidance on better gross margins. According to the firm, its core operating income and core net income for Q4 of fiscal 2008 will exceed the guidance previously provided by the company. The firm said the boost came as a result of a richer-than-anticipated product mix, and increased core gross margins of 54 to 55 percent. The firm's shares were up 39% on Tuesday at the close of the market.