Newport Beach-based chipmaker Mindspeed Technologies Inc. on Monday gave a revenue outlook for the current quarter that fell below Wall Street expectations.
Excluding one-time gains from patent sales, Mindspeed said it’s expecting December quarter sales of $40 million to $42 million, down roughly 9% from a year earlier and below analysts’ expectation of $48 million in sales.
Mindspeed didn’t give a profit outlook.
Analysts are looking for the company to report adjusted profits of $7 million, more than double a year earlier.
The outlook comes after Mindspeed’s results for the September quarter, which fell short of expectations when one-time gains and charges were excluded.
Excluding one-time gains from patent sales, Mindspeed saw revenue of $45 million, up 29% from the same period a year earlier.
Including the patent sales, Mindspeed’s top line totaled $58 million for the three months through October 1.
Analysts, on average, were looking for Mindspeed to report $53 million in revenue.
Excluding patent sales, charges from stock compensation, payroll and other one-time costs, Mindspeed posted $6 million in profits, up from breaking even in the year-ago quarter.
Including the patent sales, Mindspeed posted profits of $16 million.
Analysts, on average, were expecting adjusted profits of $10 million.
Mindspeed’s chips get built into third- and fourth-generation telecommunications networks.
The company’s shares were down about 3% in afterhours New York trading on a recent market value of $243 million.
