Cirrus Logic ( CRUS) confirmed it still expects to lose money in its second quarter and said lessened consumer confidence causes it to have a "conservative" outlook for the upcoming holiday months as well.

Cirrus's shares were recently down 33 cents, or 7.14%, to $4.29 on the Nasdaq.

For the quarter ending Sept. 28, the company expects a loss of 6 cents to 10 cents a share. Analysts were predicting the company would lose 7 cents a share.

Cirrus expects revenue to be at $76 million, similar to the first quarter. Operating expenses are expected to be $43 million to $45 million.