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