SAN FRANCISCO—Actel Corp. has raised its third-quarter guidance as the company prepares to be acquired by Microsemi Corp.
Actel, which makes programmable chips, said Friday that its revenue in the third quarter rose 9.5 percent to 10 percent over than the second quarter. Earlier, the company had projected a 3 percent to 7 percent rise.
The company's gross profit margin, a key measure of how well companies are controlling costs, came in around 67 percent, up from Actel's earlier prediction of 65 percent.
The company did not offer further details on the higher guidance.
Earlier this month, Microsemi announced plans to buy Actel for $20.88 per share, or about $430 million. Actel on Friday reaffirmed its recommendation that shareholders accept Microsemi's offer.
Actel shares rose 3 cents to $20.90 in extended trading, after the company reported the update. During the regular trading session, shares had fallen 4 cents to $20.86.
