Zoran Corporation Reports First Quarter 2011 Results

Monday, May 9th, 2011 
Zoran logo

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 first quarter ended March 31, 2011.

Revenues for the first quarter of 2011 were $84.9 million, compared to $74.2 million for the previous quarter and $90.5 million for the first quarter of 2010. The Company reported a first quarter GAAP net loss of $30.4 million, or $0.62 per share, which compares with a GAAP net loss of $32.9 million, or $0.67 per share, for the previous quarter and a GAAP net loss of $4.0 million, or $0.08 per share, for the first quarter of the prior year.

Recent Highlights

  • Zoran’s revenues by product line for the first quarter of 2011 were 39 percent Digital Camera, 25 percent STB (includes broadband receivers), 18 percent Printer Imaging, 11 percent DTV, and 7 percent DVD
  • Zoran signs definitive agreement to merge with CSR Plc
  • Zoran and Software Imaging Limited launch new Universal driverless printing solution for Smartphones & Tablets
  • Zoran secures new design win for COACH with one of the few remaining tier one customers who is not already a customer
  • Zoran delivered customer samples of COACH 14 which will power a new generation of high end cameras and secured several top tier designs with the product
  • Zoran demonstrates DTV and Set-Top-Box platforms for worldwide manufacturers at CCBN in Beijing
  • Zoran demonstrates Set-Top platforms for Pay Satellite manufacturers at Convergence India in New Delhi
  • Zoran demonstrated to customers its Android TV platform based on its new SupraHD DTV processor

More: Earnings Release