Newport Beach-based Conexant Systems Inc. said revenue fell 18.5% for the quarter ended March 30 from the previous quarter on slower sales and shipment delays for DSL chips.
Shares fell about 4%.
Conexant said it saw revenue of $200 million in the recently ended quarter.
Full results are due on April 26.
Conexant also saw a decline in set-top box revenue due to delays with service pay TV providers in the U.S. and Europe.
Chips used in “all-in-one” printers that fax, scan and copy were hurt by a buildup of unsold chips at key customers.
DSL chips for high-speed Internet connections saw worse-than-expected price drops.
The revenue decline was anticipated by the company, though it still was below Wall Street’s expected $222.8 million.
“The overall semiconductor market continues to demonstrate signs of continued weakness,” Chief Executive Dwight Decker said in a January statement.
