Alliance posts $5.1 M Q3 revenue
Wednesday, 29 January 2003, 20:30 IST
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SANTA CLARA: Alliance Semiconductor Corporation (Nasdaq:ALSC) Wednesday posted revenues of $5.1 million for the third quarter ended December 31 as compared to $4.1 million in the second quarter and $6.3 million for year ago period. The non-memory business units represented approximately 28% of the Alliance's total revenue compared to 18% in the previous quarter, reflecting the company's intent to diversify its revenue channels, the company claimed. Moreover, the non-memory business units achieved a 92% sequential increase in combined revenues for the quarter due to increasing demand and acceptance in the marketplace. The net loss for the third quarter was $43.6 million, or ($1.21) per share, compared to a net loss of $21.7 million or ($0.56) per share for the previous quarter. Operating expenses for the quarter were $10.3 million, a decrease from the $11.1 million reported in the second quarter of fiscal 2003. The operating expenses for the fiscal third quarter 2003 included $2.6 million resulting from the consolidation of two investee companies compared to $2.9 million in the fiscal second quarter 2003. The results for the third quarter also include a pre-tax charge of approximately $35.3 million related to impairment charges taken against certain of the Company's venture investments and on the Company's holdings in Chartered Semiconductor and Tower Semiconductor. "While overall results for the third quarter continue to reflect the weak economic environment, the decision to diversify our product line and invest in high growth markets has helped broaden our market opportunities in these difficult times. Our non-memory business units are showing great progress and the combined mixed signal and system solutions revenue continued to grow in the third quarter," said N.D. Reddy, Alliance chairman, president and chief executive officer. "We are pleased to announce 8 new customers for our mixed signal business, increasing our overall number to 45. In our system solutions business, shipments for the SP1011, the world's first HyperTransport(TM)-to-PCI Bridge, more than doubled sequentially as more customers introduced their products to market. Similarly, the number of direct OEM customers and design wins worldwide increased by more than 20%. In addition to these successes, our long-standing memory business introduced to the market 0.13-micron, 18M synchronous SRAM. These three solid business units, along with our strong sales channels, help position the company as a long-term industry leader."
Source: IANS
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