Newport Beach-based Mindspeed Technologies Inc. on Monday reported a wider loss for the December quarter but said it sees sales for the current quarter exceeding Wall Street expectations.
The maker of chips for network equipment lost $11.3 million in the December quarter, versus $5.5 million a year earlier.
Sales for the quarter were down 9% from a year earlier to $30.2 million.
Mindspeed blamed product shipment delays due to an overseas earthquake for the poor performance. The Dec. 26 earthquake in Taiwan disrupted communications in Asia after an undersea cable was severed. The outage affected Mindspeed’s assembly facility in the Philippines.
For the current quarter, Mindspeed said it sees sales rising 7% to 13% from the prior quarter with a reduced loss.
That helped drive up Mindspeed’s shares some 8% in afterhours trading.
