Zoran Corporation Reports First Quarter 2011 Results
Monday, May 09, 2011 12:00 AM



SUNNYVALE, CA--(Marketwire - May 9, 2011) - Zoran Corporation (NASDAQ: ZRAN), a leading provider of digital solutions for applications in the digital entertainment and digital imaging markets, today reported results for its first quarter ended March 31, 2011.

Tags: NASDAQ:ZRAN

View Original Article http://www.marketwire.com/mw/release.do?id=1511419&sourceType=3

$2.66-16.00 52 weeks range..TV chip play? is this what is it?
"Management at chip maker Zoran is cautious about the immediate future and doesn't see DVD player sales making the same contributions to results, but that may not stop the company from moving forward strongly. After all, Motley Fool Stock Advisor recommendation Dolby Labs (NYSE: DLB) also faced a DVD market that was said to be past its prime, yet Dolby has been able to surprise analysts consistently with remarkably robust sales. There are still plenty of drivers for growth at Zoran; its chips are also found in TV set-top boxes. CAPS member toddum finds the conversion to digital signals next year to be one of those drivers: "With the upcoming "digital television" revolution, their chips will increase in demand as U.S. homeowners rush to buy either new TVs or digital converter boxes for their new sets. This company should be poised for a good year."

ZRAN's price objective is 17.70 using P&F charts...

Yes indeed.

hiya frenchee

looks like zran made a nice move today

our mcd didn't do too badly either.

Annual Growth, Past 5 Years

EPS 45.27%
Revenue 27.75%

ZRAN relative strength versus $SOX

Insider buying now...

Recent Insider Trading Activity: Zoran Corp
Date Name Transaction Num Shares Price(s) Value
01/31/08 BURGESS RAYMOND A Purchased 2,000 $11.60 23,200.00
11/01/07 SHENBERG ISAAC Sold 709 $24.85 17,618.65
10/29/07 YOUNG PHILIP M Sold 7,200 $26.15 188,280.00
10/26/07 GERZBERG LEVY Sold 54,218 $25.88 1.40 Mil
10/25/07 SHENBERG ISAAC Sold 21,793 $24.47 533,274.69
05/01/07 MEINDL JAMES DONALD Sold 7,200 $20.09 144,625.69

Analyst alerts
--------------------------------------------------------------------------------

02/05/08 ZRAN : Upgraded from Perform to Outperform $18 by Oppenheimer. Ratings Calendar | Definition
01/30/08 Exceeded analyst earnings estimates for second straight quarter. Earnings Surprise | Definition
01/30/08 ZRAN beat analyst earnings estimates. Earnings Surprise | Definition
01/30/08 P/E to growth ratio suggests stock may be undervalued. Price Ratios | Earnings Estimates | Definition
01/29/08 ZRAN : Upgraded from Buy to Strong Buy $22 by Needham & Co. Ratings Calendar | Definition

Financial alerts
--------------------------------------------------------------------------------

01/29/08 ZRAN's profit margin up again. Ten Year Summary | Definition
01/29/08 ZRAN's P/E ratio well below industry average. Price Ratios | Definition
10/13/07 Price-to-cash-flow ratio well below industry average. Price Ratios | Definition

Max pain theory value is 20. http://www.iqauto.com/cgi-bin/pain.pl

best viewed by 1280 x 960 resolution...

wow frenchee!

has anyone ever told you that you have BIG charts? lol

Next target 15-15.29

Each business day, TheStreet.com Ratings updates its ratings on the stocks it covers. The proprietary ratings model projects a stock's total return potential over a 12-month period, including both price appreciation and dividends. Buy, hold or sell ratings designate how the Ratings group expects these stocks to perform against a general benchmark of the equities market and interest rates.

While the ratings model is quantitative, it uses both subjective and objective elements. For instance, subjective elements include expected equities market returns, future interest rates, implied industry outlook and company earnings forecasts. Objective elements include volatility of past operating revenue, financial strength and company cash flows. ...

Each of the following ratings updates was generated on Jan. 30. ...

Zoran (ZRAN - Cramer's Take - Stockpickr), which makes integrated circuits and products used in DVD players, has been upgraded to a buy. The company's strengths can be seen in its revenue growth, largely solid financial position with reasonable debt levels, impressive earnings-per-share growth, compelling growth in net income and attractive valuation levels. These strengths outweigh the stock's lackluster performance.

Zoran's revenue growth of 34.4% is higher than that of the industry average. Zoran has no debt to speak of, a relatively favorable sign. The company also maintains a quick ratio of 4.14, which clearly demonstrates the ability to cover short-term cash needs.

For the fourth quarter of 2007, Zoran posted income of $58.7 million, or $1.11 a share, vs. a loss of $11 million, or 22 cents, in 2006. At 34%, Zoran's year-over-year revenue growth significantly outpaced the industry average. Zoran sports a price-over-earnings (P/E) ratio of 8.50 and a P/E-to-growth ratio (PEG) of 1.46.

Zoran Corp, a small-cap value company in the technology sector, is expected to significantly outperform the market over the next six months with average risk.

10 is the best possible rating.


http://moneycentral.msn.com/investor/StockRating/srsmain.asp?Symbol=zran

You are welcome Tina Marie.

Thanks for the tip frenchee

I'll be doing some DD. Thanks!

Markets and Products Update, Feb 08

http://www.zoran.com/data/File/Investors/Zoran_Investor_Presentation_Feb08.pdf

Company Performs Well In Fundamental Analysis -
XXX currently has a BUY rating on ZORAN CORP (ZRAN), based on a final overall grade of 65.4 scored by the company's fundamental analysis. ZORAN CORP scores at the 87th percentile among all 5385 U.S. listed equities currently followed by XXX. Our present rating dates to January 29, 2008, when it was upgraded from a HOLD. Relative to the Semiconductors sub-industry, which is comprised of 126 companies, ZORAN CORP's grade of 65.4 ranks 14th. The industry grade leader is HIMAX TECHNOLOGIES INC (HIMX) with an overall grade of 84.3. The stock has performed poorly in the last six months in relative terms, down 25.04% compared with the Semiconductors sub-industry, down 20.63% and the S&P 500 Index, down 5.67%.

Zoran's COACH Processors Power Over 50 Digital Camera Models On Display at PMA 2008 in Las Vegas


SUNNYVALE, CA -- (MARKET WIRE) -- 02/11/08 --

Zoran Corporation (NASDAQ: ZRAN) announced that its COACH digital camera processors are powering a range of top-tier digital camera brands displayed this past weekend at the Photo Marketing Association trade show in Las Vegas.

The COACH single-chip processors power digital camera models from manufacturers such as Aiptek, Chicony, DXG, Kodak, Nikon, Olympus, Pentax, PureDigital, Samsung, Sony and others.

"At PMA the focus was on technologies that enable better picture and camerauser experience. Having anticipated the trend, Zoran demonstrated the COACH11 digital camera processor's advanced features including real time face tracking, image blur correction, enhanced ISO, extended picture dynamic range and other picture quality features. The COACH product line offers the most advanced imaging quality and features that meet the high standards of top brand digital camera makers, which explains why there are so many new models this quarter," said Ohad Meitav, senior director Zoran's digital camera product line.

Zoran's COACH family of digital camera processors addresses a growing segment of converging digital still cameras that also perform video encoding, rivaling the results from digital camcorders. Compact tapeless camcorders benefit the consumer by making high quality video easy to playback and share on a PC or other consumer devices. To enhance the user experience the COACH embeds High Definition Multimedia Interface (HDMI) for viewing photos and video on a high definition television, utilizing the HDTV capabilities to its fullest.

Short-term down trend line broken today. Now lets fill the gap...

Zoran Demonstrates Unparalleled Camera and Multimedia Technology for Mobile Phones at World Mobile Congress 2008

APPROACH(R) Processor Technology Sets New Standard for Digital Still and Video Image Capture

SUNNYVALE, CA -- (MARKET WIRE) -- 02/11/08 -- Zoran Corporation (NASDAQ: ZRAN) announced that it will be demonstrating its APPROACH(R) multimedia processor and its digital camera and multimedia technology at the World Mobile Congress 2008, February 11 to 14, Fira de Barcelona in Hall 2, Booth 2H59.

Zoran's digital camera and multimedia technology provides unprecedented image quality enabling high definition camcorder video as well as high resolution still photography. Based on Zoran's industry leading COACH digital camera Image Signal Processing (ISP) technology, image quality and real time video capture now rival the more expensive digital cameras. Features include 5 megapixel resolution, image stabilization, blur-correction technology, improved image capture even in low light conditions, and face detection and tracking.

"The market for higher quality camera phones with at least 5-megapixel resolution is expected to grow from 15 million units in 2007 to more than 256 million units in 2011," said Tetsuo Omori, Techno Systems Research analyst. "This dramatic growth is attributed to consumer demand for a higher quality camera experience in mobile phones, such as that offered by LG's new Viewty camera phone, which uses Zoran technology and is selling well in Europe. This, in turn, promises to drive increased demand for higher quality image, applications and multimedia processors for handsets."

"In this highly competitive market, handset manufacturers are looking to differentiate their brands by providing new models that deliver higher quality still photos and video clips for consumers. Zoran's digital camera and multimedia technology provides the best-in-class image processing as well as new features that help the consumer deliver better photos and video clips to share with family and friends. Our focus has been to enable the handset manufacturer to deliver an improved experience for consumers," said Coby Sella, senior vice president and general manager at Zoran's Mobile division.

Zoran will demonstrate H.264 capabilities for both capture and playback of high definition video. This video technology employs innovative techniques for achieving high image quality, high performance, and high definition video, while also delivering image stabilization and anti-blur technology for both video and still photos. Zoran's ISP technology supports up to ISO-6400 at full picture resolution for improved photo images even when captured in low light conditions. Zoran will also demonstrate innovative new features for mobile camera phones such as face detection and tracking.

Zoran's APPROACH(R) multimedia processors support a variety of multimedia functions, including best-in-class ISP image quality, enhanced video play and record capabilities, multi-standard end-to-end Mobile TV, integrated TV-out, and High Speed USB 2.0. Zoran's APPROACH(R) multimedia processors leverage technology used in Zoran's digital cameras, imaging and home entertainment products.

and a small screen

sorry you have a slow connection...

The chart in the iBox takes 2 minutes to load.

Zoran valued cheaply relative to its peers...

P/E Ratio: 10.26
P/E Ratio vs. Industry: 50.92%

Analysts' Forecasts

Analysts' Earnings Forecasts
Forecasts are very negative.
Recent analyst earnings forecasts for ZRAN have decreased which indicates a decline in expected
earnings growth. Relative to changes in earnings forecasts for other companies ZRAN compares
negatively. However, the company has reported earnings that were higher than those predicted in
earlier estimates which may be a positive for future earnings growth.
Changes in analysts' estimates and actual reported earnings compared to forecasted estimates provide
additional insight into earnings momentum. These measures combine with Ford's earnings
momentum to produce better results than each independently.

Valuation Analysis

Very undervalued according to earnings yield.
ZRAN's operating earnings yield of 9.3% ranks above 88% of the other companies in the Ford universe
of stocks, indicating that it is very undervalued.
Ford measures the relative valuation of each company against all other companies in our research
universe. Operating earnings yield, an earnings-to-price ratio based on the last 3 quarters of operating
earnings and the current quarter's estimate, has proven to be the most reliable relative valuation
measure. A stock may stay undervalued or overvalued for a long period of time. For this reason it is
important to combine this factor with short term catalysts such as earnings momentum or price
momentum that may unlock potential valuation adjustments.

Price Momentum Analysis

ZRAN's stock price is down 18.3% in the last 12 months, down 46% in the past quarter and down 31.6%
in the past month. This historical performance should lead to above average price performance in the
next one to three months.
Another important catalyst, especially in regard to intermediate and short term performance, is the
historical price action of the company. Long term historical performance is a good indicator of future
price performance, but much more importantly, large price movements over the intermediate and short
term tend to reverse themselves. Ford's price momentum measure integrates historical long and short
term price changes creating ratings that are highest for stocks with strong twelve month price
performance that have a price consolidation in the past quarter and especially the past month.

Quality Rating

An average quality rating.
ZRAN is considered average quality based on its mid cap size, low financial leverage and average
earnings volatility. Average quality companies on average exhibit an average degree of price volatility.
While not part of the overall recommendation, Ford's quality rating has been a good indicator of the
potential price volatility of a company. Ford measures quality based on company size, financial leverage
and the volatility of earnings. Quality may not have a direct relationship to performance, but it does
have a close relationship to the dispersion of returns among individual stocks. Attractive, high quality
companies can have less downside volatility in weak markets and often produce strong returns during
complete market cycles.

RECOMMENDATION

We rate ZORAN CORP (ZRAN) a BUY. This is driven by a number of strengths, which we believe should have a
greater impact than any weaknesses, and should give investors a better performance opportunity than most
stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely
solid financial position with reasonable debt levels by most measures, compelling growth in net income,
attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the
company has had lackluster performance in the stock itself.
HIGHLIGHTS

The revenue growth came in higher than the industry average of 12.6%. Since the same quarter one year
prior, revenues rose by 34.4%. Growth in the company's revenue appears to have helped boost the earnings
per share.

ZRAN has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a
relatively favorable sign. Along with this, the company maintains a quick ratio of 4.14, which clearly
demonstrates the ability to cover short-term cash needs.
The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500
and the Semiconductors & Semiconductor Equipment industry. The net income increased by 634.6% when
compared to the same quarter one year prior, rising from -$10.99 million to $58.73 million.

44.90% is the gross profit margin for ZORAN CORP which we consider to be strong. Despite the high profit
margin, it has decreased significantly from the same period last year. Despite the mixed results of the gross
profit margin, ZRAN's net profit margin of 45.40% significantly outperformed against the industry.

UPGRADES & DOWNGRADES HISTORY
Date Research Firm Action From To
5-Feb-08 Oppenheimer, Upgrade, Perform, Outperform
29-Jan-08 Needham & Co, Upgrade, Buy, Strong Buy
28-Jan-08 Canaccord Adams, Upgrade, Sell, Hold
15-Jan-08 Kaufman Bros, Initiated, Buy

I'm just expecting this one to go up...just looks like it should!

ZRAN Grade Composition


GROWTH B+

VALUE A+



Market Growth LT A-

Capital Structure A+



Market Growth ST A+

P/E Analysis A+



Relative Price Strength F

Price/Book Ratio A+



Growth Potential A-

Price/Cash Flow Ratio A



Earnings Momentum F

Price/Sales Ratio A+



Earnings Surprise A+

Market Value A



PROFITABILITY B-

CASH FLOW B+



Asset Utilization B+

Cash Flow Growth A+



Capital Utilization F

EBITDA Margin B-



Operating Margins B+

Debt/Cash Flow Ratio A+



Relative Margins D

Interest Cov. Capacity A+



Return on Equity D

Economic Value F



Quality of Revenues B-

Retention Rate B-

Zoran is undervalued...picked up some today on the weakness...

P/E Ratio: 10.37
P/E Ratio vs. Industry: 51.03%

Zoran Demonstrates Coach 11 Digital Camera Processors With Face Tracking and Blur Correction Technologies at PMA 2008


SUNNYVALE, CA -- (MARKET WIRE) -- 01/31/08 --

Zoran Corporation (NASDAQ: ZRAN) announced that it is demonstrating the wide range of advanced features of its highly integrated COACH 11 digital camera processor, with leading image processing and video compression technologies, at the Photo Marketing Association (PMA) trade show in Las Vegas from January 31 to February 2.

New technologies include hardware-based Face Tracking, which detects and tracks up to 10 faces at a time so that the photographer can focus and track a subject anywhere within the frame. In addition, the correct auto focus and auto exposure for the tracked subject is automatically selected for improved picture quality in every shot.

A unique Blur correction technology detects camera motion via an external gyro and corrects the image in the camera. Even photos taken in low light conditions can be restored to sharper images with more pleasing results. The blur correction complements Zoran's proprietary Digital Image Stabilizer technology which reduces the chance of a blur in the first place.

"We expect that over 120 million digital cameras were sold worldwide during2007 and about 130 million units will be sold during 2008," said Chris Chute, Research Manager at IDC. "Market developments include continued improvement in image quality, processor performance and the integration of new features such as the Face Tracking and Blur Correction technology offered by Zoran's COACH 11 processor. High quality video capture is quickly becoming a must-have feature in the digital camera market and correcting for camera shake can improve video quality."

"We continue to get customer feedback that Zoran's COACH digital camera processors deliver the highest performance of any digital imaging and videosolution available today. The COACH processors support DSLR-grade performance and picture quality while also enabling video recording at high definition resolution. In addition, the new COACH 11 processor offers improved photographs with Face Tracking and Blur Correction technologies," said Coby Sella, senior VP and general manager, Zoran's Mobile division.

In addition to DSLR-grade image quality, including high ISO at full pictureresolution, Zoran's COACH 11 incorporates proprietary jitter stabilization for both video and still photos, Advanced Video Coding, and achieves new levels in power efficiency extending battery life to enhance user satisfaction by ensuring that life's precious moments are not lost due to a low battery.

Digital camera manufacturers have several COACH 11 processor products to select from, ranging from digital-imaging only solutions to those with advanced processing capabilities that correct lens color and geometric distortions. At the higher end, the COACH processor continues to address the need for advanced High Definition video codecs with an HDMI interface for displaying impressive detail in both still photography and video playback.

COACH 11-based reference designs from Zoran enable manufacturers to bring new digital camera offerings quickly to market. COACH 11 platforms maintain firmware compatibility with the previous generation COACH processors to preserve development efforts and shorten time to market.

This looks good right now...fill the gap!

Grub..