Analysts expect the company to report a loss of $0.14 per share for the July quarter, excluding special items, compared to a loss of $0.35 per share last year. Second-quarter revenue is expected to stay broadly unchanged at $1.14 billion.
For the first quarter of 2023, the company reported a narrower net loss despite a decline in sales. Net loss for the April quarter was $50.5 million or $0.17 per share, compared to a loss of $157.9 million or $0.52 per share in the same period of last year. On an adjusted basis, loss narrowed to $0.14 per share in Q1 from $0.52 per share in the prior-year quarter. At $1.24 billion, first-quarter net sales were down 10% from the year-ago period.