Cloudy Quarter at Conexant

The set-top box component maker posts a small profit but falls a bit short on revenue.
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Conexant (CNXT) - Get Report gave a mixed fiscal fourth-quarter financial report and guided for modest sequential growth.

For the latest quarter, the communications chipmaker posted a penny-a-share profit, excluding all one-time items, on $165 million in sales. That compares with a 16-cent loss on revenue of $158 million for the year-ago period. For the fiscal year, the company broke even on $600 million in sales, bettering the $1.14-a-share loss at the same revenue level last year.

Analysts had expected fourth-quarter earnings of 2 cents a share on $163 million in revenue, according to a Multex poll. For the full year, Wall Street's consensus called for a break-even performance for the year and revenue of $610 million.

Conexant shares fell 2% to close at $6.09 Thursday and remained unchanged in after-hours trading.

The Newport Beach, Calif., company said it saw strong demand for its asynchronous digital subscriber line, or ADSL, and satellite set-top box components.

"We begin our new fiscal year as a growing company with an accelerated earnings opportunity focused exclusively on delivering the technology and products that are driving the broadband digital home," CEO Dwight Decker said in an earnings release.