expects to post a loss for the fourth quarter, reversing the best guess of Wall Street analysts who are looking for the company to report a profit for the period.
The maker of integrated circuits said it expects to post a loss of 15 cents to 17 cents a share in the quarter. Seven analysts polled by
Thomson Financial/First Call
are calling for the company to earn 11 cents in the period. The company earned 3 cents in the year-ago period.
Genesis also said that it expects revenue of $18.2 million to $18.4 million. The company attributed the shortcomings to costs associated with restructuring operations and other initiatives and fees.
The company now expects revenue for the fiscal first quarter in the range of $19.3 million to $19.5 million, with the top line growing 10% sequentially for the remainder of the year.