- Spectra7 Microsystems (OTCQB:SPVNF) said Wednesday that it expects full-year 2023 revenue of ~$9.7 million.
- SPVNF added that it sees Q4 revenue at ~$0.1 million, resulting in H2 2023 revenue of $3.3 million.
- The company had previously forecast revenue for the second The 2023 half will be in the range of $6 million to $6.8 million.
- “The change in revenue outlook for the fourth quarter and second half of 2023 reflects slower construction activity in China, which has caused dealer inventories to grow,” the company said in a statement.
- SPVNF said it was temporarily delaying order fulfillment in the quarter to manage distributor inventories at optimal levels.
- SPVNF anticipates volume and revenue will increase significantly in the first half of 2024 as orders are fulfilled.
- Press release
