Zoran Beats, Guides Higher

The shares ended at a 52-week high.
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Zoran's

(ZRAN)

fourth-quarter loss narrowed sharply from a year ago as sales of its video chips and other hardware rose 63%.

Zoran lost $2.1 million, or 5 cents a share, in the quarter, compared with a loss of $30.1 million, or 70 cents a share, last year. Adjusted for various items including amortization, Zoran earned $10.9 million, or 23 cents a share, in the most recent quarter, beating the Thomson First Call consensus estimate by 8 cents.

Overall sales rose 46% from a year ago to $109.3 million, about $5 million above analyst estimates. By category, hardware revenue rose 63% to $95.4 million while software and other revenue fell 14% to $13.9 million in the fourth quarter.

On an adjusted basis, Zoran expects to earn 10 cents to 12 cents a share in the first quarter. Revenue should be $103 million to $106 million. Analysts were forecasting earnings of 9 cents a share on revenue of $97.8 million.

Zoran closed Monday at a 52-week high of $20.99, up 60 cents, or 2.9%.