Newport Beach chipmaker Conexant Systems Inc. is expecting to stay in the red during the current quarter.
For the three months through March, Conexant expects to see a loss of $3 million to $7 million on revenue of $68 million to $74 million.
Analysts, on average, are looking for a loss of $7 million on sales of $76 million.
The outlook comes on the heels of Conexant’s results for the December quarter, which came out slightly ahead of analysts’ expectations.
For the three months through December, Conexant recorded revenue of $87 million, down 56% from the same period a year ago and just ahead of analysts’ expected $85 million in sales.
Excluding charges for stock compensation, severance pay and other costs, the company posted a loss of $3 million, less than the $4 million loss analysts were expecting.
Including charges, Conexant lost about $11 million.
The company ended the quarter with $110 in cash and short-term assets.
In the same announcement, Conexant said it wrapped up a cost-cutting plan that is expected to save about $12 million per year starting in the June quarter.
Conexant slashed some 140 jobs at its sites around the world, restricted spending and cut back on employee benefits.
It had a recent market value of about $35 million.
