SigmaTel swings to 4Q loss |
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Thu, 01 Feb 2007 23:17
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AUSTIN, Texas (AFX) - Chip maker SigmaTel Inc. said Thursday it swung to a fourth-quarter loss on hefty one-time charges and a drop in revenue.SigmaTel posted a loss of $98.7 million, or $2.78 per share, compared with a profit of $4.6 million, or 12 cents per share, in the same quarter in 2005.The results included a non-cash pre-tax charge of $81.8 million for the impairment of goodwill and other assets and a $16.1 million tax valuation allowance.Excluding those charges, others and stock-option expenses, the company posted an adjusted loss of $8.8 million, or 25 cents per share, compared with an adjusted profit of $6 million, or 16 cents per share, for the same quarter in 2005.Revenue fell to $37.5 million from $82 million in the year-ago period.Analysts polled by Thomson Financial had expected a loss of 32 cents per share, excluding charges, on $37.4 million in revenue.For the full year 2006, Sigmatel posted a loss of $109 million, or $3.09 per share, compared with a profit of $35.9 million, or 95 cents per share, for 2005.Excluding charges, the company posted an 2006 adjusted loss of $44.4 million, or $1.26 per share, compared with an adjusted profit of $49.2 million, or $1.30 per share, for 2005.Revenue fell to $159.4 million from $324.5 million the year before.Shares of SigmaTel, which also announced a cost-cutting plan Thursday, fell 60 cents, or 15 percent, to $3.30 in aftermarket trading, after closing up 2 cents at $3.90 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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