Genesis Microchip

(GNSS)

was down 22.2% in preopen

Island

trading after warning it expects a fourth-quarter loss between 15 cents and 17 cents a share, compared to an 11-cent profit expected by analysts and earnings of 3 cents in the year-ago period. The company blamed the loss on restructuring costs and other initiatives and expects to return to profitability in the first quarter.

Genesis expects quarterly revenue to increase about 10% sequentially over the rest of the year.