Trident Microsystems’ quarterly loss widens on big inventory write-off, shares fallBy AP
Monday, February 8, 2010
Trident Microsystems’ losses widen on write-off
SANTA CLARA, Calif. — Trident Microsystems Inc. said Monday that its quarterly loss widened as the company took a big inventory write-off.
The company, which makes chips for digital televisions, said its net loss was $23.4 million, or 34 cents per share, in the last three months of 2009. That compares with a loss of $14.6 million, or 24 cents per share, in the year-ago period.
Excluding items, the company lost 22 cents per share, which was bigger than analysts predicted and included a $2.8 million write-off “pre-production” inventory. Analysts polled by Thomson Reuters expected a loss of 18 cents per share.
Revenue jumped 66 percent to $31.9 million, but was still short of analyst estimates for $32.8 million.
Sylvia Summers, Trident’s CEO, called the inventory write-off “disappointing” but added that the company’s acquisition of NXP Semiconductors’ television systems and set-top box business lines — which closed Monday — will help the company by creating a “much larger and more diversified revenue and customer base.”
Trident Microsystems shares fell 4 cents, or 2.2 percent, to $1.77 in extended trading. They had closed up 11 cents, or 6.5 percent, at $1.81 during the regular trading session.
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