A handful of Orange County technology companies weighed in with earnings and news about an options dating probe on Thursday:
Newport Beach chipmaker Conexant Systems Inc. said it swung to a loss in the quarter ended Sept. 30, due partly to a decline in value in an investment in spinoff Mindspeed Technologies Inc., also of Newport Beach.
The company lost $21.1 million in quarter, compared with a profit of $50.1 million a year earlier. The loss included a $12.9 million decrease in the value of warrants in Mindspeed, which Conexant spun off in 2003.
Excluding Mindspeed and other items, profit totaled $14.4 million. Revenue rose 14% from a year earlier to $246 million, just below Wall Street’s expectations.
Emulex Corp. of Costa Mesa, a maker of circuit boards for data storage networks, reported lower profits and sales from a year earlier but beat Wall Street’s expectations.
The company said profit for the recently ended quarter was $15 million, down from $16.4 million a year earlier. Emulex’s $22.8 million in profits before items came in higher than what analysts had expected.
Aliso Viejo-based Quest Software Inc. said Thursday it reassigned controller Kevin Brooks to other duties as part of its review of stock options.
Chief Financial Officer Michael Lambert took over accounting duties from Brooks.
The company said it made the move “in connection with Quest’s ongoing special committee investigation of stock option matters and was an interim decision pending completion of the special committee investigation and related restatement.”
