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ATI Lowers Guidance For Fiscal Q4

ATI Technologies today lowered guidance for fiscal Q4, which ended August 31, 2002, citing sluggish demand for its graphics processors in notebooks.
The company announcement, delivered after the market closed, stated that revenues would be in $235-$240 million range, and adjusted earnings per share would be flat to about 2 cents per share. Back in June, ATI set guidance for Q4 earnings per share at 5-7 cents. The company cited "weakness in the personal computer market and more specifically, the notebook market" as the reason for the shortfall. ATI is bullish on fiscal Q1 2003, however, expecting a "double-digit percentage increase in revenue in the fiscal first quarter of 2003" as the Radeon 9700 line takes hold in the market. ATI's financial results for Q4 and year-end will be announced on October 2.

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