We last looked closely at Brillian (NASDAQ:BRLC) back in April, when the company's shares got a boost on news of substantial orders for a new HDTV product it was developing using technology to bring extraordinarily high-quality images to viewer households. The company's shares held more or less steady since then -- until Friday, when they dropped more than 12% on news of downbeat third-quarter guidance.

Brillian said in a pair of Thursday night press releases that the aforementioned product wouldn't be able to ship in significant volumes until the third quarter because a key part wasn't available in the quantities needed. Interestingly, Brillian identified the company that failed it -- JDS Uniphase (NASDAQ:JDSU) -- but also took the unusual step of giving JDS the opportunity to make its case and defend itself, as it were, in its announcement.

The near-term hit to Brillian's business is substantial. Revenue guidance for the quarter was dropped to $800,000 at the most, down from initial estimates of between $2.8 million and $3.2 million. Net losses, meanwhile, are seen between $5.6 million and $6.1 million, up from an old worst-case estimate of $4.9 million. Fourth-quarter revenues, meanwhile, are up in the air as the company waits to see how the components come through.

All told, it's bad news for a company that should be in the right place at the right time with high-end TVs the "new black" in household electronics. That these TVs were intended for a new retail partner only adds to the sting: That retailer can't be happy that they weren't ready for the start of NFL football -- a time of year ready-made I can report, for the company of good friends, three steaming slow cookers, and Tanner's 60-inch TV set.

Brillian's hot new TVs, it appears, won't get to join the party until the season is well under way.

Fool contributor Dave Marino-Nachison doesn't own any of the companies in this story.