Zoran Corporation Reports Second Quarter 2010 Results

Monday, July 26th, 2010 
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SUNNYVALE, Calif — Zoran Corporation (NASDAQ: ZRAN), a leading provider of digital solutions for applications in the digital entertainment and digital imaging markets, today reported results for its second quarter ended June 30, 2010.

Revenues for the second quarter were $93.4 million, compared to $90.5 million last quarter and $102.7 million for the second quarter of 2009. The Company reported a second quarter GAAP net loss of $6.7 million, or $0.13 per share, which compares with a GAAP net loss of $4.0 million, or $0.08 per share, for the previous quarter and a GAAP net loss of $13.8 million, or $0.27 per share, for the second quarter of the prior year.

Non-GAAP net loss for the second quarter was $4.0 million, or $0.08 per share, which excludes $109 thousand of amortization of acquired intangible assets, $2.4 million of stock-based compensation expenses, but includes an adjustment of $100 thousand for the tax provision to a non-GAAP rate. This compares with non-GAAP net loss of $1.4 million, or $0.03 per share, for the previous quarter, and a non-GAAP net loss of $4.3 million, or $0.08 per share for the same period last year.

Recent Highlights

  • Revenues by product line for the second quarter of 2010 were 45 percent Digital Camera, 28 percent DTV (includes set-top-box), 15 percent Printer Imaging and 12 percent DVD.
  • Zoran and Micrel announced a new reference design for internet connected DTVs
  • Zoran-based internet connected SOCs and Frame Rate Conversion solutions power new Toshiba television models
  • Zoran demonstrated its latest DTV and Set-Top Box platforms for worldwide manufacturers at Computex 2010 in Taiwan
  • Zoran licensed RealD Format for delivery of high-quality 3D content on consumer electronics products
  • Zoran is now delivering HDTV 1080p technology platforms for internet connected TVs for Europe, Brazil, China, Japan and other regions
  • RoxioNow is now available on Zoran’s Advanced HDTV processor platform

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