Trident Microsystems (TRID) Angers The Earnings Spirits

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Shares in Trident Microsystems (TRID) are off 30% to $8.65 on week earnings.

The provider of digital TV technology for the consumer digital video marketplace, announced for the first fiscal quarter of 2008, ended September 30, 2007,  net revenues of $88,174,000, a 24% year-over-year increase from the $71,363,000 reported in the quarter ended September 30, 2006.

Analysts on average had forecast revenue of $90.2 million, according to Reuters Estimates

Net income of $10,059,000 was recorded in the first quarter ended September 30, 2007, on a generally accepted accounting principles ("GAAP") basis, or $0.16 per share on a diluted basis,  This compares to net income of $10,513,000 in the quarter ended September 30, 2006, on a GAAP basis, or $0.17 per share on a diluted basis,