warned on Monday after the close that its fourth-quarter results would be below estimates due to order delays and industry weakness.
The company, which makes processor architectures, said its fourth-quarter revenue would be about $10 million, below the consensus estimate of $13.33 million provided by Thomson Financial/First Call. In the year-ago quarter, the company reported revenue of $17.62 million.
MIPS added that the shortfall will cause a wider-than-expected loss per share of 9 cents to 10 cents, compared with a year-ago profit of 5 cents. Analysts were looking for a loss of about 4 cents.
In a press release, MIPS called the results "disappointing," and said the company continues to experience delays in closing order opportunities in the current market environment.
Shares of MIPS closed at $5.88 Monday before the news.