Zoran narrows 2nd-quarter loss, but digital TV products still fall short of hopes

Zoran narrows 2Q loss

SUNNYVALE, Calif. — Chipmaker Zoran Corp. said Monday it narrowed its second-quarter loss, hurt by weakness in its digital television division.

For April through June, the company’s net loss was $6.7 million, or 13 cents per share. In the same period last year, Zoran’s net loss was $13.8 million, or 27 cents per share.

Excluding amortization charges, stock options expenses and other items, the company said its loss totaled 8 cents per share.

That’s a penny worse than Wall Street was expecting, according to a Thomson Reuters survey.

Revenue slipped 9.1 percent to $93.4 million from $102.7 million in the year-ago quarter, but was still better than the $92.2 million analysts had predicted.

Zoran makes chips used in video and audio applications on personal computers, as well as chips for digital cameras, digital video recorders, TV sets and mobile phones.

The company said sales of chips for digital cameras were better than expected, but digital television products fell short.

For the current third quarter, Zoran forecast an adjusted loss of 9 cents to 11 cents per share on $98 million to $103 million in revenue.

Analysts were looking for a stronger quarter, with adjusted earnings of 9 cents per share and $110.7 million in revenue.