Zoran Corporation Reports Second Quarter 2011 Results

Tuesday, July 26th, 2011 
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SUNNYVALE, CA — 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, 2011.

Revenues for the second quarter of 2011 were $82.9 million, compared to $84.9 million for the previous quarter and $93.4 million for the second quarter of 2010. The Company reported a second quarter GAAP net loss of $25.5 million, or $0.51 per share, which compares with a GAAP net loss of $30.4 million, or $0.62 per share, for the previous quarter and a GAAP net loss of $6.7 million, or $0.13 per share, for the second quarter of the prior year.

Non-GAAP net loss for the second quarter was $17.7 million, or $0.36 per share, which excludes $1.3 million of amortization of acquired intangible assets, $994 thousand of restructuring expenses, $1.7 million of acquisition related expenses, $3.3 million of stock-based compensation expenses, and includes an adjustment of $377 thousand for the tax provision to a non-GAAP rate. This compares with a non-GAAP net loss of $21.3 million, or $0.43 per share, for the previous quarter, and a non-GAAP net loss of $4.0 million, or $0.08 per share for the same period last year.

Recent Highlights

  • Zoran’s revenues by product line for the second quarter of 2011 were 28 percent Digital Camera, 24 percent STB (includes broadband receivers), 19 percent Printer Imaging, 16 percent DTV and 13 percent DVD
  • Zoran introduces optimized interactive IP set-top products for service operators
  • Zoran’s IPS print language software is licensed for use in a new HP enterprise Inkjet printer
  • Zoran demonstrates new DTV, Set-Top-Box, silicon tuner, digital camera and printer platforms at Computex
  • Zoran selects RT-RK to port Android to its SoCs.

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