Zoran narrows 4th-quarter loss as revenue, share of US digital television market grow

Zoran 4th-quarter loss narrows as revenue grows

SUNNYVALE, Calif. — Zoran Corp. said Monday that its fourth-quarter loss narrowed as the chip maker expanded its share of the U.S. market for digital televisions and other entertainment hardware.

The company said it lost $2.9 million, or 6 cents per share, an improvement over the loss of $20 million, or 40 cents per share, recorded in the same quarter of 2008.

Excluding the effects of one-time items like stock-based compensation expenses, Zoran earned $500,000, or a penny per share. That compares with an adjusted loss of 21 cents per share in the 2008 quarter.

Revenue improved 25 percent to $93 million. Zoran said its sales tied to products like digital recorders and printers.

Analysts polled by Thomson Reuters predicted a loss of 3 cents per share on revenue of $94 million. Analysts typically exclude one-time items from their estimates.

Zoran said its 2009 net loss was $32 million, or 64 cents per share, compared with a loss of $215.7 million, or $4.20 per share, for 2008. The 2008 period included hefty charges including expenses for in-process research and development.

Revenue slid to $380.1 million from $438.5 million.

The company said it expanded its U.S. digital television market share to over 30 percent during the quarter.

Zoran shares fell 76 cents, or 6.5 percent, to $11 in after-hours trading. Shares earlier rose 27 cents, or 2.4 percent, to end regular trading at $11.76. The stock has ranged from $5.07 to $12.32 over the past year.