Newport Beach-based Jazz Semiconductor Inc., which said in April it plans to go public, posted a loss in the first quarter amid falling prices, the company said in a regulatory filing Wednesday.
Jazz, a contract chipmaker, posted a net loss of $726,000 during the first quarter, down from a $7.1 million loss a year ago, but off a $3 million profit in the fourth quarter.
Revenue improved, climbing 13% to $55.9 million from the year-ago period and up 1% from the fourth quarter.
Wafer prices fell 22%.
The company revealed the numbers in its first amendment to its initial stock offering filing. Jazz is looking to raise $105 million in its IPO.
That’s down from the $150 million Jazz had sought to raise in a 2004 IPO plan that eventually was shelved last June.
Dwight Decker, chief executive of Newport Beach-based Conexant Systems Inc., which spun off Jazz and owns about 40% of the company, had said at the time that he wanted to keep the filing alive, but had to pull it to comply with regulatory rules.
Washington, D.C.-based private equity investor Carlyle Group owns 47% of Jazz. It acquired the stake at the time of its spinoff from Conexant in 2002.