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To: Johnny Canuck who wrote (40026)	8/12/2003 12:13:33 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70035

16:17 ET ZRAN Zoran guides below consensus for Q3 (23.87 +0.67) Company warns for Q3 (Sep). Pro forma earnings per share are expected to be diluted by $0.10-0.12 from the $0.31-0.33 the Company guided on 7/24 to $0.19-0.23, Reuters Research consensus is $0.32. For Q3, pro forma earnings per share will exclude acquisition related costs including a one-time charge for in-process R&D and the amortization of purchased intangibles as well as a probable one-time restructuring charge. For Q4, Company expects pro forma earnings per share to be diluted by $0.08-0.10 from the $0.26-0.30 previously guided to $0.16-0.22, R.R. consensus is $0.26. Pro forma earnings per share for Q4 will exclude non-cash amortization of acquisition-related costs such as deferred compensation and acquired technology. [Harry: Not a good sign. Next quarter is typcially a key quarter for the Christmas shopping season. It could indicate maufacturers anticipate a soft Christmas season or it could indicate they are losing share. Possible competitors are Mediatek.]