LSI Revises 4Q08 Outlook

LSI Corporation has revised its business outlook for the fourth quarter ending December 31, 2008. LSI now projects revenues of $570 to $610 million. The previous business outlook, which was announced on October 22, 2008, projected revenues in the range of $670 million to $710 million.

The revised outlook reflects anticipated sales levels that are lower than previously expected due to the weakening global macroeconomic environment. LSI has already begun taking steps to reduce operating expenses as a result of continuing demand uncertainty and expects to maintain tight expense controls for the foreseeable future.

"While our balance sheet remains strong, we are taking appropriate measures to adjust to current business conditions as well as an anticipated revenue decline in the first quarter of 2009 that we expect to be greater than typical seasonal patterns," said Abhi Talwalkar, LSI president and chief executive officer. "Our goal is to continue to drive positive operating cash flows going forward."