BRIEF: Zoran shares fall on disappointing guidance: The digital solutions company beat third quarter on estimates.

Tue. October 27, 2009; Posted: 04:34 PM

Oct 27, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX) -- ZRAN | Quote | Chart | News | PowerRating -- Digital solutions company Zoran Corporation (Nasdaq: ZRAN | Quote | Chart | News | PowerRating) share was down 11 percent in morning trading to $9.05, giving a market cap of $467.64 million, after the company said it expects fourth quarter revenue to be between $91 million and $95 million.

Zoran, which makes chips used in a range of consumer electronic products such as digital TVs and DVD players reported third quarter profit of $4.9 million, ($0.09 a share), compared with a loss of $154.2 million, ($3.01 a share), for the corresponding quarter of 2008.

Revenue was $115.5 million, down from $126.1 million for corresponding quarter last year. Adjusted income was $0.17 a share. The company beat third quarter estimates.

Needham analyst N. Quinn Bolton said, "Zoran's business prospects have not changed. Accordingly, we are leaving our 2010 and 2011 estimates unchanged and see a positive catalyst for the shares next quarter when we believe it likely the company will guide positively for the first quarter of 2010."

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For full details on Zoran Corp (ZRAN) click here. Zoran Corp (ZRAN) has Short Term PowerRatings of 4. Details on Zoran Corp (ZRAN) Short Term PowerRatings is available at This Link.

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