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Investing

Zoran, When Beating Earnings Isn’t Anywhere Near Enough (ZRAN)

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By Douglas A. McIntyre Published

Zoran Corp. (NASDAQ: ZRAN) shares are getting hit hard in after-hours trading.  The company posted earnings of $0.34 EPS, $0.02 better than the First Call estimate of $0.32.  Unfortunately the good news stops there. 

Revenues did rise some 34% from Q4-2006 to $129.4 million, but First Call had estimates at $130.8 million.  It got worse too after it issued guidance to the downside for Q1-2008 with EPS of $0.05 to $0.09 and it sees Q1-2008 revenues of $104 to $109 million.  First Call was at a $0.24 EPS and $122.35 million in revenues. Gross margins will be in the range of 50% to 51%.

The company develops and markets integrated circuits and products used in digital versatile disc players, movie and home theater systems, digital cameras, professional and consumer video editing systems, and digital speakers and audio systems. 

Its shares are down some 22% to $11.65 in an active after-hours trading session. The 52-week trading range is %13.72 to $27.45, so treat this one as a new 52-week low for Tuesday.

Jon C. Ogg
January 28, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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