Zoran 4Q Outlook Falls Short Of Wall Street Views

NEW YORK (AP) — 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.