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SCM Microsystems warns of 2Q shortfall

    SCM Microsystems (Nasdaq: SCMM) said it will report a loss of between 20 cents to 23 cents a share in its second quarter after taking a $7 million charge related to taking a majority stake in Dazzle Multimedia Inc.

    Company officials now expect a loss of $3 million in the quarter, compared to a loss of $2.1 million, or 15 cents a share, in the year-ago quarter.

    First Call consensus expected it to earn 24 cents a share in the quarter.

    SCM also said reduced gross margins due to the rapid introduction and production ramp of several new products and expenses related to operations from prior acquisitions would dampen its second quarter results.

    The stock closed up 5/8 to 54 3/8 ahead of the profit warning.

    Its shares peaked at 104 1/8 in February after falling to a low of 28 9/16 in October.

    All three analysts following the stock rate it a "strong buy" or a "buy.">