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Centillium posts $24.7 M Q4 revenue
By siliconindia
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Wednesday, 05 February 2003, 20:30 IST
FREMONT: Centillium Communications, Inc. (Nasdaq:CTLM), Wednesday posted revenues of $24.7 million for the quarter ended December 31, 2002.
This is a decrease of 28.4% from revenues of $34.5 million for the fourth quarter of 2001, and a 6.1% increase from the $23.3 million of revenues for the third quarter of 2002. Revenues for the year ended December 31, 2002 were $105.0 million, compared with revenues of $159.5 million for the year ended December 31, 2001.
Under generally accepted accounting principles (GAAP), the net loss for the fourth quarter of 2002 was $10.4 million, or $0.30 per share, compared with a net loss of $4.2 million, or $0.12 per share, for the fourth quarter of 2001. The net loss for fiscal 2002 was $33.3 million, or $0.96 per share, compared with a net loss of $19.7 million, or $0.59 per share for fiscal 2001.
The pro forma net loss for the fourth quarter of 2002 was $3.3 million, or $0.09 per share, compared with a pro forma net loss of $5.6 million, or $0.16 per share, for the third quarter of 2002 and pro forma net income of $200,000, or $0.01 per share, for the fourth quarter of 2001. Pro forma net loss for fiscal 2002 was $20.6 million, or $0.59 per share, compared with pro forma net income of $7.4 million, or $0.20 per share for 2001. Pro forma results exclude purchased in-process research and development, impairment of goodwill, recurring deferred stock compensation, certain other stock compensation and payroll tax expense related to employee stock option exercises, amortization of acquisition related intangibles, restructuring costs, a one-time gain related to the sale of a non-current investment and certain charges for inventory obsolescence.
"The DSL services market in Japan added approximately 1.4 million new subscribers in the fourth quarter, compared with 922,000 new subscribers in the third quarter, bringing the total number of DSL subscribers in Japan to 5.6 million," commented Faraj Aalaei, Chief Executive Officer and co-founder of Centillium. "The availability and adoption of higher bandwidth services, based on Centillium's eXtremeDSL technology, has contributed to the accelerated deployment of DSL in Japan. The rollout of these services, providing Internet access at speeds up to 12 megabits, began in earnest in the fourth quarter in Japan, helping to drive both subscriber adds and equipment upgrades," concluded Aalaei.