Zoran Corporation’s (ZRAN) second quarter revenue exceeded the consensus by 16.2%, while the EPS beat by $0.14. Revenue for the quarter was $102.7 million, down 20.2% from $128.7 million in the year-ago quarter and up 49.9% from $68.5 million in the previous quarter. This was better than the company’s revenue outlook of $85.0-$90.0 million. The non-GAAP net loss of $0.08 per share was better than the company’s guidance range of $0.20- $0.24 per share.   Hardware product revenues decreased 18.8% year over year to $92.2 million but increased 64.6% sequentially. Software royalties, licensing and other revenues were $10.5 million, down 16% and 30% from the previous and year-ago quarters, respectively. The sequential increase in revenue may be attributed to strength in the DTV segment (driven by increasing demand for low to mid-range LCD TVs) and digital cameras (driven by low to mid-range models). The strength in ...

Zoran Corporation's (ZRAN) revenues in the last few quarters were disappointing, with several sectors being influenced by the poor economic environment.The company's guidance for a significant slowdown in business activity was well below the analyst consensus. Cash flow is positive, excluding acquisitions, and total cash should provide a buffer to further declines in stock price.Our price target remains at $15.00 and our recommendation is a BUY. Zoran Corp. is a leading provider of digital solutions for applications in the growing digital entertainment and digital imaging markets.Read the full analyst report on ZRAN "ZRAN" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research