2008.02.05 - SIRF

Pre-market:

SIRF - -47% gap a pre-marketben...

"SiRF Technology Holdings Plunging In Pre-Market On Disappointing Earnings

(RTTNews) - Shares of SiRF Technology Holdings (SIRF) fell nearly 42% in Tuesday's pre-market session after the company reported disappointing fourth-quarter earnings. As of 8:11 am ET, the stock was trading at $9.47 down $6.80.

If the stock maintains its pre-market levels, it will fall below support and will be on track to close at its worst levels since it started trading with the SIRF ticker.

SiRF Technology Holdings said that its fourth quarter net income was $0.7 million or $0.01 per share, down from $9.1 million or $0.16 per share in the fourth quarter of 2006.

Non-GAAP net income for the fourth quarter of 2007 was $17.7 million or $0.28 per share, compared to $15.7 million or $0.28 per share, for the fourth quarter of 2006. Net revenue in the fourth quarter of 2007 was $100.4 million, an increase of 35.3% from $74.2 million reported in the fourth quarter of 2006.

Analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.32 per share on revenues of $100.99 million for the quarter."

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