MEMS vendor raises third quarter guidance

September 01, 2020 //By Peter Clarke
MEMS vendor raises third quarter guidance
MEMS timing component company SiTime Corp. (Santa Clara, Calif.) has raised its financial guidance for 3Q20 by 10 percent.

The company had forecast early in August that it would achieve revenue of between $28 million and $29 million in the 3Q20. It now states that 3Q20 revenue will be at least 10 percent higher than its previous guidance at between $31 million and $32 million.

This includes initial revenue from a new design win at a large existing customer, SiTime said (see Apple's role revealed as lossy SiTime files for IPO ).

SiTime was able to get an initial public offering shares away in November 2019 despite being a loss-making company. In the first half of 2020 the company has been impacted by the Covid-19 pandemic and so continued to be loss making.

In 1H20 SiTime made a net loss of $10.7 million on revenue of $43.2 million, which compares with a net loss of $8.3 million on revenue of $30.7 million in 1H19.

Related links and articles:

www.sitime.com

News articles :

Apple's role revealed as lossy SiTime files for IPO

MEMS oscillator supports timing with 70fs jitter

Intel selects SiTime for 5G timing MEMS


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