Newport Beach chipmaker Mindspeed Technologies Inc. said Monday it narrowed its loss for the three months ended June 30 but cautioned about sales for the current quarter.
The company’s shares slipped as much as 6% in afterhours trading before gaining back ground. Mindspeed has a market value of about $250 million.
The maker of chips for telecommunications networks said it expects sales for the current quarter to be flat to 5% higher than the June quarter. Analysts had expected a gain of 6%.
For the June quarter, Mindspeed reported a loss of $2.5 million, less than the $4.5 million loss the company saw a year earlier.
Sales were $33 million, down 7% from a year earlier.
Analysts were looking for about $34 million in sales for the June quarter.
After a sluggish start to the year, sales of Mindspeed’s analog chips rose 15% from the prior quarter, the company said. Analog chips make up about 28% of Mindspeed’s sales.
The company’s voice over Internet chips were flat at about 28% of its sales.
Wide-area networking chips, used to power Internet access in offices buildings, airports and city parks, grew about 10% from the previous quarter.
Wide area networking chips make up roughly 44% of sales, the company said.
