SiRF: Another Tough Quarter

SiRF Technology (SIRF) has checked in with another disappointing quarter.

The maker of GPS chips posted revenue for Q3 of $60.1 million and a loss of 34 cents a share, below the consensus at $61.85 million and a loss of 18 cents. Gross margin dropped to 42.7% from 49.3% a year ago, as revenues tumbled 34.1%.

The company said it was “a challenging quarter…with weakness in demand driven by global economic uncertainty and continued competitive pressures that impacted both our revenue and margins.” SiRF said that it remains “cautious” on the outlook “due to economic uncertainties and challenging competitive environments.”

After hours, SIRF is down 4 cents, or 4.2%, to 91 cents. That reversed a gain of 3 cents in the regular session.