Conexant Expects Loss

Conexant Systems Inc., a maker of chips for communications gear, said it expects to report a loss of 5 cents to 10 cents a share for its fiscal first quarter and much lower-than-forecast revenue. Analysts had forecast earnings of 11 cents from Conexant, according to First Call/Thomson Financial. The company said revenue will be $400 million to $425 million, about 20% less than its previous forecast for the quarter ending this month. Conexant cited a “steep drop” in consumer demand for personal computers, fax machines and satellite set-top boxes. Shares in Newport Beach-based Conexant fell $1.06 to close at $20.38 on Nasdaq, before the warning. The shares fell as low as $14.13 in after-hours trading.