Zoran Corp. (ZRAN) reported a fourth-quarter GAAP net loss of $2.9 million or $0.06 per share compared to a GAAP net loss of $20.2 million or $0.40 per share for the fourth quarter of the prior year.
Non-GAAP net income was $0.5 million or $0.01 per share compared to a non-GAAP net loss of $10.5 million or $0.21 per share for the same period last year.
On average, 13 analysts polled by Thomson Reuters expected the company to report a loss $0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues were $93.3 million compared to $74.7 million for the fourth quarter of 2008. Analysts expected revenue of $94.01 million for the quarter.
The company is currently expecting first quarter 2010 revenues to range between $90 million and $94 million. The company expects to record a first quarter GAAP loss in the range of $0.06-$0.10 per share on approximately 51.5 million shares. On a non-GAAP basis, which excludes acquisition-related amortization costs and stock-based compensation expenses, the company expects to record a first quarter loss of $0.02-$0.05 per share.
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