SAN JOSE -- Genesis Microchip Inc. today (March 29) warned that its losses be higher than previously estimated because of costs associated with restructuring its operations, low production yields, and other non-recurring expenses.
The company said it continues to expect revenues to be in the range of $18.2 million to $18.4 million in the fiscal quarter, ending March 31. However, the display chip company said it now anticipates a loss in the range of $0.15 to $0.17 per share.
"Owing to the one-time nature of the charges and the expected benefits of the actions we've taken to streamline operations, we anticipate returning to profitability in the next quarter," said Amnon Fisher, chief executive officer of Genesis Microchip. "These actions will allow us to focus on our core business."
The company has also revised its revenue estimates for the next fiscal quarter to be in the range of $19.3 million to $19.5 million. The company also said it expects revenues to grow sequentially by 10% per quarter during the second half of 2001.