October 19, 1998
Zoran Stk-2: Profit Expected In
3Q Following 2Q Loss
Dow Jones Newswires
NEW YORK -- Zoran Corp. (ZRAN) shares rose
Monday on expectations the company will report a
third-quarter profit after the market's close Thursday,
according to Elliot S. Prince, who follows the stock for
Salomon Smith Barney.
Prince put Zoran's third-quarter earnings at 2 cents a
share and its full-year earnings at 4 cents. First Call
Corp. estimated third-quarter earnings at 1 cent a share,
compared to the company's 10 cents a share operating
loss in the second quarter.
Zoran's stock recently was up 1 1/4 to 7 13/16, or
19%, on Nasdaq volume of 106,700, compared with
average daily volume of 87,000.
While Zoran's stock took a beating in the second quarter
on revenues of about $7.1 million, Prince put
third-quarter revenues at about $10 million.
Chief Financial Officer Karl Schneider said company
shares may be gaining on "optimism analysts have that
Zoran will do better in the third quarter."
The Santa Clara, Calif., software and chip maker for
digital video and audio applications hasn't made any
preannouncements that would affect the stock,
Schneider said.
Schneider also cited an upward trend in the digital video
disk market and the company's aggressive
supervideo-compact disk marketing strategy in China.
-By Amy Hughes; 201-938-5171 |
