Memsic Inc. (MEMS) reported that its fourth-quarter GAAP net loss attributable to the company was $1.4 million, or $0.06 per share, compared to a loss of $3.3 million, or $0.14 per share, in the 2011 quarter.
Before giving effect to a goodwill impairment charge of $0.6 million in the 2012 quarter and $4.5 million in the 2011 quarter, the company reported a net loss of $0.8 million, or $0.03 for the 2012 quarter and net income of $1.2 million, or $0.05 per share, for the 2011 quarter.
Net sales totaled $14.2 million compared to $21.5 million in the 2011 quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share on revenues of $15.05 million for the quarter. Analysts' estimates typically exclude special items.
Revenue is expected to be between $11 million and $12 million for the first quarter of 2013. GAAP net loss is expected to be in the range of $0.09 to $0.11 per share for the first quarter of 2013. Analysts expect the company to report a loss of $0.05 per share on revenues of $15.55 million for the first-quarter.
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