ZRAN ( $32-$38) quarter net loss widens after charges meets expectations by penny
SANTA CLARA, Calif., July 18 (Reuters) - Zoran Corp. (NasdaqNM:ZRAN - news), a provider of digital solutions, on Wednesday reported a wider second-quarter net loss compared with a year earlier as acquisition related costs hurt results.
The Santa Clara, California-based company reported pro forma net income for the quarter ended June 30 of $192,000, or 1 cent per diluted share, compared with pro forma net income of $3.0 million, or 20 cents per diluted share, a year ago.
Including the effect of acquisition-related costs, Zoran reported a net loss for the second quarter of $10.6 million, or 62 cents per share, compared with a net loss of $3.7 million, or 26 cents per diluted share a year earlier.
Revenues for the second quarter of 2001 were $21.9 million compared with $18.9 million for year-ago quarter. Looking ahead, Zoran expects third-quarter pro former income per share in the range of 13 to 17 cents and for the fourth-quarter to be in the range of 24 to 27 cents per share.
Zoran shares closed Wednesday down 4.59 percent at $31.20 on the Nasdaq market. |
