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Our Points
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Tuesday, March 25. 2008
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SiRF Cuts, Stock Falls
Expect upturns after the holidays in GPS sales never came and thus Tuesday GPS chip maker SiRF announced that it would lay off 7 percent of its 753 member workforce and close offices in South San Francisco and Stockholm, Sweden .
The company expects to report revenues of between $60 million to $62 million, compared to the prior expected range of $71 million to $77 million. A planned move into mobile TV will dropped. The market responded to the bad news: stock fell by about 27 percent to $5.00 by noon
- PC Magazine
Posted by Adena Schutzberg
in GPS
at
16:57
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