Conexant Resultados
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Conexant (CNXT: news, chart, profile) said it lost $367.5 million, or 79 cents a share, on revenue of $213.1 million for the quarter ended Oct. 1. Excluding charges, the maker of communications semiconductors lost 2 cents a share, which met the estimates of analysts surveyed by Thomson First Call, who also expected the company to report revenue of $211 million.
During the same period a year ago, Conexant earned 3 cents a share on $164.7 million in revenue.
The company said its results include revenue from its merger with GlobespanVirata in February, which were not part of the year-ago results.
Armando Geday, Conexant's Chief Executive Officer, said, in a statement, that the company's sales fell from the $267.6 million it reported in its third quarter because of "excess channel inventory that resulted from lower-than-expected customer demand," and that such issues would continue to affect results going forward.
For its 2005 first quarter, Conexant said it expect to post a loss, excluding charges of between 6 cents and 7 cents a share, on revenue in a range of $175 million to $185 million. Analysts had expected the company to lose 2 cents a share on $206 million in revenue.
In after-hours trading, Conexant shares fell 17 cents, or more than 9 percent, to $1.59.
During the same period a year ago, Conexant earned 3 cents a share on $164.7 million in revenue.
The company said its results include revenue from its merger with GlobespanVirata in February, which were not part of the year-ago results.
Armando Geday, Conexant's Chief Executive Officer, said, in a statement, that the company's sales fell from the $267.6 million it reported in its third quarter because of "excess channel inventory that resulted from lower-than-expected customer demand," and that such issues would continue to affect results going forward.
For its 2005 first quarter, Conexant said it expect to post a loss, excluding charges of between 6 cents and 7 cents a share, on revenue in a range of $175 million to $185 million. Analysts had expected the company to lose 2 cents a share on $206 million in revenue.
In after-hours trading, Conexant shares fell 17 cents, or more than 9 percent, to $1.59.
Conexant Resultados
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