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NEW YORK - Chip maker Zoran Corp. on Monday forecast fourth-quarter results below Wall Street expectations, saying consumer spending is still weak.
Zoran said it expects to lose between 6 cents and 14 cents per share in the last quarter of the year. Excluding one-time items, the company said it will do no better than break-even, and said it may lose up to 7 cents per share. It forecast $91 million to $95 million in revenue.
According to Thomson Reuters, analysts had expected profit of a penny per share, excluding one-time items, and $100.8 million in revenue.
Zoran's third-quarter results were better than analysts expected, but shares fell in aftermarket trading. The stock gave up $1.15, or 11.3 percent, to $9.02 in after-hours trading. In the regular session, the stock gained 13 cents to close at $10.17.
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