Magma (San Jose, Calif.) said preliminary results indicate that revenue for the quarter—the first quarter of the company's fiscal 2010—will be between $28.6 million and $28.8 million, above the guided range of $27.5 million to $28.5 million.

Revenue would still be down about 16 percent compared to the $34.1 million in the previous quarter and about 37 percent compared to the first quarter of fiscal 2009, when Magma notched revenue of $45.7 million.

Magma said it now expects to report a loss per share for the quarter of 16 to 17 cents, down from the previous guidance of a loss of 19 to 20 cents per share.

Magma is scheduled to report its fiscal first quarter financials on Aug. 27.