Shares of Newport Beach-based Mindspeed Technologies Inc. jumped 36.3% Tuesday after the company reported a narrower loss in its quarter ended June 30.
The maker of networking chips said after the close of trading Monday that it had a quarterly loss of $9.5 million compared with a loss of $20.1 million a year ago. Revenue was $27.7 million, down from $35.4 million a year earlier.
Mindspeed, a spinoff of Newport Beach-based Conexant Systems Inc., said it expects sales in its September quarter to rise 5% to 10% from the June quarter.
“During the past quarter we experienced a significant pick-up in orders across the majority of our product families and across all geographic regions, and we believe that market conditions are beginning to improve,” said Raouf Halim, Mindspeed’s chief executive.
