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TranSwitch Toes the Line
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Business New Haven
1/21/2002
By: BNH
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SHELTON - Semiconductor design firm TranSwitch Corp. (NASDAQ: TXCC) has projected that its fourth-quarter earnings would fall in line with Wall Street expectations amid an industry slowdown. TranSwitch said it expected to post a pro forma loss per share in the range of 11 cents to 13 cents a share on revenues of about $4.5 million for the period.
Those results are in line with the Wall Street consensus for a loss of 12 cents a share, with a range of a loss of 11 cents to 14 cents a share, according to research firm Thomson Financial/First Call. The analysts expected TranSwitch to book revenues of $4.47 million.
Pro forma results exclude a fourth quarter $14 million to $16 million excess inventory charge and a $32 million to $34 million restructuring charge for laying off ten percent of its 460 employees in November. The company also took two smaller charges for consolidating four of its locations as well as a charge for deferred taxes and the impairment of certain software, tools and licenses. TranSwitch was due to report fourth quarter earnings on January 17, after press time.
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