Gives out wrong times (5)
I believe the answer is:
emits
'gives out' is the definition.
('emit' can be a synonym of 'give out')
'wrong times' is the wordplay.
'wrong' is an anagram indicator.
'times' is an anagram of 'EMITS'.
(Other definitions for emits that I've seen before include "Gives off, discharges" , "Smite (anag)" , "releases" .)