InSilicon to miss earnings forecasts
The company, which licenses semiconductor intellectual property to chipmakers, says it will fall short of analyst estimates because delayed customer-licensing contracts.
Shares in the company, which licenses semiconductor intellectual property (IP) to chipmakers, closed Wednesday's session up $1.50 to $7.50.
For the quarter, the company said it now expects to earn between 2 cents and 4 cents a share, before goodwill and other noncash charges, on revenue of about $6 million. First Call/Thomsom Financial analyst estimates call for earnings of 6 cents a share.
Year-over-year, the reduced numbers are slightly better than the $5.3 million taken in the same period a year earlier, when the company reported break-even pro forma results.
The company said that although several licensing contracts were delayed leading to Thursday's warning, the contracts were not lost to the competition and will be realized at a future date.
InSilicon will release full first-quarter results on Jan. 16 and expects to give further guidance on the coming year's performance at that time.