Horrific? Not hardly. They did $3m more in revenues than what they guided during the last earnings cc. They made .07/share. Margins were a little weaker, but that due to ASP of their chips.
Guidance appears weak, but comments by the CEO indicate that demand is returning. I think the'll see a revenue trough the 1st Q, then will see growth into the 2nd and beyond, given new product lines, etc.
The report is far from horrific. I'd describe more as positive to lukewarm.
It's hard to find much to like. 78% of the market has converted. Yes they beat on revenue but missed on EPS. Y/Y is down (a lot). One encouraging item in the conf call... or press release.. was expansion to India.