GlobeSpan's Third-Quarter Loss Narrower Than Expected

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lost $3.3 million, or 4 cents a share, on a pro forma basis in its third quarter, beating analysts' loss estimates of about 8 cents a share.

The Red Bank, N.J., chipmaker said third-quarter revenue was about $46 million, down 58% from $110 million last year. Earnings were $13.6 million, or 18 cents a share, in the year-ago quarter.

GlobeSpan said worldwide DSL deployments are beginning to outpace those in the U.S. and said it has seen customer inventory reductions.

The company's bottom-line loss of $65.1 million, or 89 cents a share, in the most recent third quarter, reflects various charges and items.