Genesis Microchip Inc. today said that its earnings for the fourth quarter of its 2001 fiscal year ending March 31, 2001 are anticipated to fall short of its previously stated expectation.
The company expects revenues for the quarter to be in the range of $18.2 million to $18.4 million, unchanged from its previous expectations.
Nevertheless, it now expects a loss in the range of 15 to 17 cents per share, which is below its previous earnings expectation. The company said it expects to return to profitability in the next quarter.
The company attributes the difference primarily due to costs associated with the restructuring of certain of its operations, including staff reductions in order to streamline operations, among other factors.
The company has also revised its revenue expectations for the June 2001 quarter to be in the range of $19.3 million to $19.5 million and now expects revenues in the balance of calendar 2001 to grow sequentially by 10% per quarter.
Owing to residual impacts on its inventory costs, the company anticipates its overall blended gross margins in the June 2001 quarter will be approximately 47% before returning to approximately 50% in subsequent quarters.