Shares of chip maker Trident Microsystems (TRID) are down 7 cents, or 14%, at 44 cents 12 cents, or 23%, at 41 cents in late trading after the company reported a 55% drop in revenue and said it will lose as much this quarter as it has in the last twelve months and said it was exploring options to handle a cash crunch.
Revenue in the three months ended in September totaled $80.1 million, down from $176.6 million a year earlier, yielding a net loss of 22 cents a share, worse than the year-earlier 10-cent loss.
CEO Dr. Bami Bastani said the company secured design wins for future production during the quarter, but that, “given the loss of a significant expected IP deal, delays in mass production of new programs, and a soft consumer electronics market, we anticipate that the quarterly loss in the fourth quarter will be at least as large as what we have seen over the past year, further eroding our cash position.”
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