LONDON, Dec 15 (Reuters) - Imagination Tech, theBritish company whose graphics technology powers some Apple devices, warned on profit on Tuesday, saying it hadbeen hit by a slowdown in semiconductor and smartphone markets.
The company swung to an operating loss of 7.3 million poundsfor the six months to end-October, from a profit of 5.0 millionpounds a year ago on revenue down 14 percent, to 71.1 millionpounds, with falls in both licensing and royalties.
Chief Executive Hossein Yassaie called the performance"disappointing", saying it reflected a short-term slowdown inthe overall semiconductor industry and softness in the mobilemarket.
"The board currently expects adjusted operating profit forthe financial year to 30 April 2016 to be below previousexpectations," the company said.
Brokers on average were expecting operating profit of 14.1million pounds, according to Thomson Reuters data.
Shares in the group, which had already fallen about 35percent in the last three months, were trading down 8 percent at150 pence at 0809 GMT.
Broker Jefferies, which has a "buy" rating on Imagination,said it would cut its forecast for full-year adjusted operatingprofit by about half, and bring its 2017 estimate down as well.
It now forecasts earnings per share for the year of 2.8pence, down from its previous prediction of 6 pence, the samelevel the company produced last year.
($1 = 0.6604 pounds) (Reporting by Paul Sandle; editing by Sarah Young)
