Trident Reports Q4 2010 Financial Results, Suffers Sequential Loss

While it may seem a bit late, seeing as how the second month of January is already underway, Trident Microsystems seems to have finally released its financial results for the last quarter of 2010.

Apparently the company returned revenues that were smaller compared to the previous three-month period but much higher than those recorded during the same period of 2010.

For those that want numbers, the net revenues were of $118.6 million, a solid jump from the $31.9 million of the December, 31, 2009 quarter but lower than Q3 2010.

To be precise, in the July-September quarter, Trident gathered $176.6 million.

This means that, on a quarterly basis, the company lost $53.8 million, which corresponds to $0.31 per share.

For the sake of comparison, the net loss for the December, 2009 quarter was of $0.34 per share ($23.4 million), while Q3 2010 yielded a fall of $17.5 million ($0.10 per share).

"The disappointing results for the quarter reflected the industry-wide inventory correction in LCD TV, which particularly impacted the mid-range and high-end of our product line, as well as softness in our legacy standard definition retail set-top box products and delayed customer ramps of certain new set-top box programs,” said Philippe Geyres, Trident's interim chief executive officer and board member, said,

“These same factors are expected to negatively impact our revenues in the first quarter of 2011, which is seasonally our weakest period."

"In the near term, we are focused on serving customers, securing designs for 2012 revenues, and continuing our integration activities to lower the breakeven point. At the same time, we are assessing how best to leverage Trident's technology assets and market presence for profitable growth. The first half of 2011 will be very challenging.,” he added.

“We expect to ramp new products and customer programs in the second half and continue ongoing cost reductions, with the goal of positioning the company for cash flow positive operations in the second half of the year and greater success in 2012."