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May 4, 2009

Conexant Q2 net loss narrows

The company posted a net revenue of $74.48m compared to $118.51m for second quarter of fiscal 2008

By CBR Staff Writer

Conexant Systems, a provider of semiconductor solutions, has posted a net loss of $13.76m, or $0.28 per basic and diluted share, for the second quarter ended April 3, 2009, compared to a net loss of $142m, or $2.88 per basic and diluted share, for the same period in 2008.

The company has reported net revenues of $74.48m for the second quarter of fiscal 2009, compared to $118.51m for the same quarter of fiscal 2008.

For the first six months of fiscal 2009, total revenue was $160.98m, compared to $264.45m for the same period of fiscal 2008. Net loss was $31.45m, or $0.63 per basic and diluted share, compared to $151.22m, or $3.07 per basic and diluted share, for the same period of fiscal 2008.

Scott Mercer, chairman and CEO of Conexant Systems, said: The Conexant team delivered performance that met or exceeded our expectations on all major financial metrics for the second fiscal quarter. Revenues of $74.5m exceeded the high end of the range we provided in January. Gross margin of 52.7% was within the range we expected, and core operating expenses of $41m were a million dollars lower than we anticipated entering the quarter due to our continued focus on cost-reduction activities.

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