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On April 27, 2009,
reported that its Q2 FY09 net loss widened on account of lower revenue and asset impairment and restructuring charges. Net loss stood at $14.57 million or $0.62 per share compared to a loss of $1.84 million or $0.08 per share in Q2 FY08. Excluding one-time items, net loss increased to $5.74 million or $0.24 per share compared to a loss of $255,000 or $0.01 per share. The latest consensus estimate was a loss of $0.26 per share.
Revenue dropped 21.3% year-over-year to $28.53 million from $36.25 million. Meanwhile, total product revenue reduced 23.2% to $26.53 million. Within this segment, revenue from multiservice access DSP products, high-performance analog products and WAN communication products slumped 5.1%, 19.6%, and 41.7% to $10.78 million, $8.16 million, and $7.59 million, respectively. On the other hand, revenue from intellectual property spiked 17.6% to $2.00 million. Geographically, revenue from Asia-Pacific, Americas and Europe plunged 10.5%, 29.9%, and 37.1% to $16.27 million, $8.73 million, and $3.53 million, respectively.
Recently, MSPD launched the industry's first multi-channel, multi-rate, low-power chipset for serial digital interface (SDI) applications. In addition, it announced the expansion of its crosspoint switch portfolio with the addition of a 160x160, 6.5 Gbps asynchronous crosspoint switch. Meanwhile, the company licensed Cortex-A9 Multicore processor to be used in its next generation multi-service networking processors to support voice and data services across wireline and wireless networks.
Looking ahead to Q3 FY09, Mindspeed estimates its revenue to be in the range of $30.00 million to $32.00 million, a growth of 13.0% to 21.0% over Q3 FY08 levels. Additionally, MSPD expects non-GAAP gross margin of 62.00% during the third quarter of FY09.