MediaTek has announced that consolidated revenues for February 2011 totaled NT$4.53 billion (US$154 million), down 39.8% sequentially and hitting the lowest level since February 2007, according to data released by the fabless IC firm.

Accumulated sales from January through February totaled NT$12.06 billion, down 43.8% from the same period of 2010.

MediaTek previously estimated consolidated revenues at NT$19.5-21 billion for the first quarter of 2011, down 7-14% from NT$22.68 billion in the fourth quarter of 2010. Some market observers have expressed concerns that the company may miss the guidance, but others believe it could manage to meet the low-end target when sales rebound in March.

MediaTek's share price opened at NT$331 on the Taiwan Stock Exchange (TSE) on March 7, down from the March 4 closing price of NT$335.50.