The stock was last quoted at $9.40, down 12%, on volume of more than 500,000, according to Nasdaq.com. Based on a regular session close at $10.68, the shares have more than doubled in the past year. At the same time, 2011 has been volatile with the stock hitting its 52-week high of $18.19 on Jan. 14 then tumbling more than 40% ahead of Tuesday's report. For its fiscal fourth quarter ending in June, MIPS said on its conference call that it expects non-GAAP earnings of 5 to 8 cents a share on revenue ranging from $19 million to $21 million, below the current consensus estimate for a profit of 9 cents a share on revenue of $21.1 million. The outlook for the full year is for pro forma earnings of 44 to 47 cents a share on revenue of between $84 million and $86 million. The five analysts covering MIPS' shares were overwhelmingly bullish ahead of the report with three rating the stock as a strong buy, and one each at buy and hold.